<P> In January 1912, the hulls and equipment of Titanic and Olympic had been insured through Lloyd's of London . The total coverage was £ 1,000,000 (£ 91,000,000 today) per ship . The policy was to be "free from all average" under £ 150,000, meaning that the insurers would only pay for damage in excess of that sum . The premium, negotiated by brokers Willis Faber & Company (now Willis Group), was 15 s (75 p) per £ 100, or £ 7,500 (£ 680,000 today) for the term of one year . Lloyd's paid the White Star Line the full sum owed to them within 30 days . </P> <P> Many charities were set up to help the victims and their families, many of whom lost their sole breadwinner, or, in the case of many Third Class survivors, everything they owned . On 29 April opera stars Enrico Caruso and Mary Garden and members of the Metropolitan Opera raised $12,000 ($300,000 in 2014) in benefits for victims of the disaster by giving special concerts in which versions of "Autumn" and "Nearer My God To Thee" were part of the programme . In Britain, relief funds were organised for the families of Titanic's lost crew members, raising nearly £ 450,000 (£ 41,000,000 today). One such fund was still in operation as late as the 1960s . </P> <P> Even before the survivors arrived in New York, investigations were being planned to discover what had happened, and what could be done to prevent a recurrence . Inquiries were held in both the United States and United Kingdom, the former more robustly critical of traditions and practices, and scathing of the failures involved, and the latter broadly more technical and expert - oriented . </P> <P> The U.S. Senate's inquiry into the disaster was initiated on 19 April, a day after Carpathia arrived in New York . The chairman, Senator William Alden Smith, wanted to gather accounts from passengers and crew while the events were still fresh in their minds . Smith also needed to subpoena all surviving British passengers and crew while they were still on American soil, which prevented them from returning to the UK before the American inquiry was completed on 25 May . The British press condemned Smith as an opportunist, insensitively forcing an inquiry as a means of gaining political prestige and seizing "his moment to stand on the world stage". Smith, however, already had a reputation as a campaigner for safety on U.S. railroads, and wanted to investigate any possible malpractices by railroad tycoon J.P. Morgan, Titanic's ultimate owner . </P>

Where did the titanic stop before it sank