Was The Titanic Sunk As An Insurance Scam?

There are many conspiracy theories surrounding the sinking of the Titanic, just one of them concerns whether or not the Titanic was sunk in some sort of complex insurance scam to save the White Star Line from bankruptcy.

This particular Titanic conspiracy is said to have begun around 6 months before the Titanic was due to sail, when the RMS Olympic hit the HMS Hawk in an accident causing damage to Olympic's hull and to the propeller. These damagers were going to cost the company both time and money, the Olympic would be out of action for several months leaving the company with lost ticket fares ranging to around £250,000 (around £10 million at today's prices). In addition to that workmen would have to be removed from the Titanic to work on the Olympic, thus putting back the launch date of Titanic which could have led to a record amount of cancellations and more lost revenue.

The conspiracy goes that the Titanic was swapped with the Olympic and then deliberately sunk that fateful night. Then, according to the conspiracy theorists, White Star planned to have the Californian standing near by in the Ice fields to pick up the survivors. It's said that the SS Californian had no passengers when she set sail into the North Atlantic, just 3,000 jumpers and blankets.

On that night the Californian misread and misjudged the position of the Titanic and was unable to get to her in time before she went down, taking the lives of over 1,500 passengers with her.

But is there any evidence to support this theory? Conspiracy theorists say the following facts support their theory:

  • Titanic made a course change, was that to meet up with Californian?
  • People report that Officer Murdoch took up his post in the crows nest after the Titanic had struck the iceberg and that he did so to look out for the Californian.
  • Titanic had no binoculars in the crows nest on that night.
  • J. P Morgan, the ultimate owner of White Star Line, cancelled his trip on Titanic just two days before she set sail due to illness. Morgan was reportedly recovered and with his mistress just two days after the sinking.
  • 55 last minute cancellations were made by Titanic passengers.

By sinking the ship the plan would have been to make money of course but did the company make money from the sinking of the Titanic? The company would have received a sum from the insurance company but they also would have paid a good deal of it out to the bereaved. However, there still would have been money left over.

So does this theory hold any truth, we think it's far too complex and too far-fetched to be even close to being true. We are confident in our own minds that the ship lying at the bottom of the North Atlantic ocean is that of the RMS Titanic and the Olympic was scrapped in 1934 after her long service.

Of course conspiracy theories are just that, theories. Is there any real evidence to support this? What do you think?

4 thoughts on “Was The Titanic Sunk As An Insurance Scam?

  1. havent they been to see the “titanic” and found some letters have fallen off revealing letters m and p … two letters that spell olympic? ..

  2. No that I’m aware of Bex, a large part of the conspiracy is that the names were changed. In addition to that a lot of the items used aboard Titanic contained no reference to the ship, plates, cups etc contained the WhiteStar logo but not the ships name. This made a lot of the stuff on board Titanic interchangeable between the three ships.

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