Insurance as a ’silent hero’ in Christmas movies, Christmas tree woes and a lot of birds - what has the insurance industry been up to of late? You heard it here first…

Die Hard’s ‘silent hero’ – insurance

Is it even Christmas without classic films like Die Hard? RPC partner Peter Mansfield has argued that insurance is the “silent hero” of this particular action movie, with the underlying message being “get yourself a good broker”. The film sees a gang of terrorists enter Nakatomi Tower on 24 December.

In a blog, Mansfield listed all the insurance policies that would be typically triggered in an event like the film depicts. This includes employers’ liability insurance when a male employee continually invades the space of a female colleague. Meanwhile, a cyber insurance policy might be triggered when the terrorists hack into Nakatomi Tower’s computer system, additionally a Nakatomi executive falls victim to a phishing attack.

A directors’ and officers’ policy could have been triggered against Nakatomi’s directors for wilfully and unnecessarily storing $650m (£491m) of bearer bonds in a Los Angeles office block.

film directors cut merry christmas

Credit: Getty

No fowl play 

Imagine a Christmas without turkey - it’s dismal, but with the current demands and pressures on supply chains, it could well happen. But fear not, supermarket Iceland has launched a turkey insurance policy, to guarantee that Brits receive a bird in time for the festive period.

In November 2021, the frozen food giant offered the first 150,000 customers that registered for an Iceland account and booked a shopping delivery slot between 11 and 17 December the guarantee of a turkey in time for Christmas Day. 

Christmas turkey

Credit: Getty


Speaking of birds, some of the Insurance Times editorial team went virtual clay pigeon shooting with Markerstudy in November, including editor Katie Scott.

Following a first round contest, technology editor Clare Ruel won a bronze medal, which bagged her a place in the final shootout. Markerstudy-owned Auto Windscreens managing director James MacBeth was hailed the overall winner at the end of the night.

The Insurance Times editorial team also joined insurer Allianz in December to complete an escape room experience - luckily both editor and technology editor escaped in time to finish the latest edition. 

clay pigeon shooting

Credit: Getty

Branching out

For those thinking of buying an evergreen conifer tree this year, the number of Christmas tree sellers have dropped by 26%, according to broker Simply Business.

It said it had seen the number of Christmas tree sellers grow 136% between 2017 and 2020, but this year there were only quarter in operation.

Alan Thomas, Simply Business’s UK chief executive, said that “Christmas tree sellers have felt the impact of the pandemic, along with rising costs and supply chain challenges.”

Christmas tree seller

Credit: Getty


The Speculator 


December 2021 saw the FCA open its second consultation on its proposed Consumer Duty, which is set to close on 15 February 2022. This aims to provide higher standards for the protection of consumers across the retail financial market.

The insurance industry has largely backed the consultation in the interest of upping consumer trust.

However, will there be time to “iron out the wrinkles” of the FCA’s recommendations, as financial services firm Hargreaves Lansdown puts it, as the regulator has once again set an ambitious implementation deadline (April 2023)?