The Backchat Insider was amused by DAC Beachcroft partner Andrew Parker’s description of the FSA’s forthcoming magnum opus
To capital adequacy and beyond!
Solvency II has morphed so much since its inception that sometimes it’s a struggle to keep up with all the changes and delays. DAC Beachcroft partner Andrew Parker hit the nail on the head last week with his description of the regulation: “Solvency II started as a bicycle, now it’s a space shuttle. Unfortunately, some people still want to ride it like a bicycle.”
Revealing a love for charity
Those Zurich boys love their cycling, especially when it’s for a good cause. This September will see Zurich staff – including head of distribution, commercial broker John Dawson, head of Zurich Private Clients Matthew Schofield and head of marketing, commercial broker John Paul – cycling 1,000 miles from Land’s End to John o’Groats to raise money for charity. Zurich is selling a 2012 calendar of the team wearing lycra to raise money for the endeavour. Surely that’s worth £5 of anyone’s money? See www.z1000m.com
No easy feet
Spare a thought for the aching legs of CCV IT director Richard Norris, who recently climbed to the top of Mount Kilimanjaro to raise money for charity. The epic climb has already got him support from various companies including Open GI - perhaps now someone can stump up for a good masseuse?
Reckless only by name
I never thought that being a dog walker could be a risky career, but some of my chums in Whitehall think differently. Tory MP Mark Reckless stood up in the Commons last week in a debate on dangerous dogs and asked Defra minister James Paice to consider whether commercial dog walkers should have to take out public liability insurance. Paice said Defra would look at the issue. Brokers and insurers take note.
Reg the legend
What is it about Reg Brown – everyone seems to love him. After being asked to head up the Managing General Agents’ Association last year, Reg has won yet more praise. Speaking in this week’s Insurance Times, AJG Underwriting managing director Sian Fisher says Reg was something of a mentor in showing her how to use your profile to benefit the wider industry.
MCE founder Michael Edwards has a deep love for Chelsea striker Fernando Torres. He’s been banging on all season about what a great player he is, despite the fact Torres had not scored in 24 hours of play. So when Torres scored two and set up two in an FA Cup victory over Leicester on Sunday, Edwards was so excited, I thought he might explode. Let’s hope for Edwards’ sake, Torres survives Chelsea’s player clearout next season.
It’s all rating and ravings
Competition between brokers is, of course, fierce and we’re used to that, but at least when there is a cocktail party or gathering we can be civil to one another (well, most of us, anyway). So I was disconcerted to learn that analysts at rating agencies are instructed not to talk to each other at industry gatherings – which in my mind puts them in the same league as investment bankers. I am happy to report, however, that unlike investment bankers, the rating analysts gleefully flout this directive and have a good old chinwag anyway.
All change … please!
Ah, Xchanging, that solid yet much-maligned backbone of the London insurance market. It seems some folks have rather got it in for the bureau. I hear that the nickname supplied by some wags for Project Darwin, which is aimed at further improving efficiency in London, is the ‘anything but Xchanging’ project. Given the upheaval such an aim would cause, I can only conclude the slip cases will continue to be de rigueur on the streets of our nation’s fair capital.