I write regarding Lloyd's assertion: "It is utterly unacceptable a policyholder should be denied knowledge of the cost of his policy."

As a humble insurance broker I can only rejoice at this wonderful Utopian ideal and pray that this openess is implemented as soon as possible.

Of course Lloyd's will itself realise it is only fair, right and proper that this works both ways and that policyholders can look forward to receiving documentation showing the breakdown of insurer's premium calculations. You know, how much goes to the Names, the percentage of premium allocated to cover "entertainment", expenses accounts, administration costs, legal bills for sorting out their old problems, the cost of cleaning and polishing of the dear old place etc, etc? We could even extend this to the composites. I am sure that policyholders would love to know, for example, (and the companies more than willing to disclose) what percentage of their premium goes on advertising.

Come the glorious day.

P.S. I'm off down to Tesco to demand a similar breakdown of my last shopping bill.
Dave Loochin
Belgravia Insurance Consultants

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