The Titanic Disaster: A Tragic Accident or Devious Insurance Scam?

Olympic-Class Ship Line

In 1902, White Star Line was owned by the International Mercantile Marine Co. (IMM), a holding company bankrolled by the famed financier J.P. Morgan. White Star chairman, J. Bruce Ismay, started to work on what would eventually become known as the Olympic-class ships, with Morgan’s permission.

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J.P. Morgan. Photo by Glasshouse Images / Shutterstock

If these ships couldn’t match the Lusitania’s speed, they would at least outclass Cunard ships, as they were larger and more luxurious. Three ships were commissioned: the Olympic, the Titanic, and the Britannic. These were going to be the new lavish ships that everyone would dream of sailing. Unfortunately, not everything went exactly according to plan.

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