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The insurance industry can trace it’s origins to the Lloyds Coffee House of 17th Century London, when groups of merchants realised that not only was it safer for their ships to sail as part of a fleet as protection against pirates, they could also spread the cost of the loss of one ship across the whole fleet.
What has the Foreign Office said?
The FCDO has advised against all but essential travel to Cairo, Alexandria, Luxor and Suez. Crucially, this advice does not extend to resorts in the Red Sea (such as Sharm el-Sheikh and Hurghada, where the vast majority of British holidaymakers are based) because they are “a very considerable distance from the affected areas and these resorts remain unaffected”.
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