At a meeting of the great and the good of insurance recently, Backchat was pondering just how much damage to the industry would be done if some calamity wiped out everyone in the room. But as Backchat began to put his thoughts into words he was interrupted by new Biba chairman and Willis stalwart George Nixon, who had been pondering how much money everyone in the room must earn.

The conversation went something like this: “If someone threw a bomb into this room...” began Backchat. “You would save a lot of money,” said Nixon.