All Backchat articles – Page 21
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Backchat
Plenty of spring in this Bok
In a lecture in Lloyd’s old library, Allianz board member and Acord chair Clem Booth imparted his wisdom on the five greatest challenges to the insurance market.Unfortunately for the predominantly English crowd, the South African decided that the best way to keep everyone interested in cycle management, climate change and ...
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Backchat
The FSA’s big reach
The FSA’s recruitment website www.smallfirmshugereach.com extolls the virtues of joining the regulator to work on its project for assessing small firms. But should you omit an ‘s’ – www.smallfirmhugereach.com offers altogether a different experience of a more, ahem, adult nature.Alas this website has now become unavailable.Backchat supposes this is principles-based ...
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Backchat
Allianz’s diary reads it wrong
Backchat was delighted to find details of Allianz’s management structure in its 2008 diaries – only to discover it changed mere days after copies were sent out to the media.The insurer obviously hadn’t properly assessed the risks when it sent out mass copies of the diaries – now outdated before ...
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Backchat
Yellow fever takes hold
In a recent head-scratching move, an insurer has called for fire engines to be painted yellow citing research that red is difficult to see at night.You would think the flashing lights and screaming sirens would be enough to help make their presence known.Yesinsurance.co.uk said research shows yellow is the safest ...
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Backchat
Fantasy Football
Dave Deugo is the QBE Fantasy Football manager of the month for October, after his team, SelhurstParkFlyer, clocked up an impressive 78 points.Sutton-based Deugo, who works for Zurich Corporate Real Estates, collected a prize of £2,500 for his achievement, claiming: “I started off with a strong defence, and then I ...
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Backchat
Building explosion predicted
Business planning is a difficult thing, but if you get it right, the cash and the plaudits will roll in. Step forward EPG insurance, which specialises in heavy plant extended warranties.In a press release on 6 November the company said: “EPG predicts a surge in demand for its specialist cover ...
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Backchat
Insurer’s acronym is music to our ears
The insurance industry loves an acronym (IBNR anyone?) and one recently caught Backchat’s beady eye.Bermuda reinsurer Montpelier purchased US excess and surplus lines insurer, renaming it, somewhat unoriginally, as Montpelier US Insurance Company. The acronym, however, was more pleasing, being Music.
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Backchat
Roll on Friday – but don’t roll off
Insurers beware: the fatal Friday phenomenon is about to hit our roads.A report has revealed that when the clocks go back and the winter nights draw in, more accidents take place on a Friday between 4pm and 6pm.Commuters with that ‘Friday feeling’ are more likely to have a smash, the ...
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Backchat
Hamster caged with death bikes
What is the best thing to do to reduce your life insurance premium after narrowly surviving a 288mph crash in a rocket-powered car? If you’re Top Gear’s Richard “Hamster” Hammond, stand in the middle of the Cage of Death at the MPH roadshow. The cage is a rusted steel orb ...
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Backchat
Wouldn’t wannabe with Winehouse
Insurance for the up-coming Spice Girls world tour is current-ly being brokered on the Lloyd’s trading floors, prompting numerous discussions as to which is the best… song. But although the Spice Girls may be insurable, what of the husky-voiced Amy Winehouse and her novel approach to time management?“Haha! Good voice ...
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Backchat
Ruff time of the year
Pet owners beware. Guy Fawkes Night could lead to expensive sessions with the dog whisperer.Recent research claims that the sounds and smells of fireworks can leave dogs and cats traumatised.The cost of treating our forlorn furry friends following a fireworks show reached £1.6m last year, according to Sainbury’s Bank.Although the ...
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Backchat
More tricks, less treats
Did you open your door to trick or treaters this Hallowe’en?According to Norwich Union, insurers could be hit with a flood of claims caused by Hallowe’en tricksters.Home insurance claims go up by 150% compared to an average day, and car insurance claims double due to pranksters that take trick or ...
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CII site makes insurance sexy
The CII’s efforts to encourage bright young things into the insurance industry received a boost this week from The Times. In a supplement on careers in financial services, it described the CII’s insurance careers website as “an excellent website that makes insurance look like the most interesting career on the ...
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Backchat
Cowed into a long career
It seems some people are just made for the insurance industry. It emerged last week that a certain public relations executive from Royal & SunAlliance had a road mishap during his youth that found him and his vehicle upside down in the middle of a farmer’s field.The fact that no ...
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Backchat
A grave statistic
Motor insurers take note – a reliable profession does not always guarantee safety behind the wheel.A recent study found that doctors and surgeons are among the nation’s most accident-prone drivers along with lifeguards, accountants and – yes – Insurance inspectors.Astrologers were revealed as the safest profession on the road. But ...
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Backchat
The wheels of a Gent
Brokers in the North are keeping it real. Following a recent report by Cumbrian outfit Peart claiming the average age of a Bentley, Aston Martin or Ferrari owner has fallen from 45 to 35, Backchat was informed that Peart’s own employees were not rushing to upgrade their wheels. The age ...
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Backchat
September Manager of the Month
Darren Scott is the first QBE Fantasy Football manager of the month, thanks to his team The Smurfs clocking up an impressive 100 points since the start of the season. The Smart & Cook broker and Lincoln branch manager lands a prize of £2,500 for his success, which he puts ...
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Backchat
Be your own white van man
The famed courier service from One Lime Street to Chatham – whereby white vans transport stacks of paper from Lloyd’s insurers to a warehouse – will cease to exist come 1 April 2008. But apparently this may not be the end, as insurers will be free to run their own ...
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Backchat
Words from the Lettsicon
Bouncebackability (adj.): A measure of the ability of a sporting team to recover from a defeat or setback; ‘West Ham battled their way back from an appalling start to last season to clinch a Premiership spot on the last day – that shows real bouncebackability.’Overcomeable (adj.): A measure ...
