So it is raining, the crow decided to shit on my coat. Then got to work and finally recevied an 'insurance renewal report' from my Brokers. The overview went like this :
'The insurance market remains relatively soft, however, due to the large EL claim on the EL/PPL policy, in conjunction with qualifying the quantum on the large motor claim in 2013; the loss ratio for the motor is 103% and the frequency ratio is also at 67.6%, Underwriters have advised that in order to price this risk accordingly, they are seeking a rating increase for this years renewal of 60%....'
Does anyone actually know what this means in plain English other than there has been a lot of claims and the insurance company wants to recoup some of its money. So time for a game of bull-shite bingo :
| Conversation | High-Level | In a Nutshell | Scope | Buzz |
| Strategize | Reuse / Reusability | Patent | Legacy | Sales Driven |
| Reverse Engineer | Deadlines | BULLSHIT BINGO (free square) | Mission Critical | Strategic |
| Top Of The Game | Diversity | Integration | Proactive | Workflow |
| Tailwind[s] | Market Leader | Process | Experiences | Eyeballs |
LOL! Poor old you. But you do, of course, have a wardrobe full of black hats, black suites and black coats?? (:
ReplyDeleteEsther,
ReplyDeleteYep, I am nothing if not predicable. Anyway, the brokers got back to me and the 'underwriters' (third person happy jack style) have 'sharpened their pencils' and reduced the premium increases. Thankfully I'd got lead in mine.
*Chuckle*
ReplyDeletelol!
ReplyDelete