UKTC Archive

Re: Terrorism+Insurance

Subject: Re: Terrorism+Insurance
From: simon pryce
Date: Dec 26 2002 10:17:11
One of the more ironic aspects of the last time the Lloyds syndicates took a
big hit was the fact that many of the names were underwriting their own
advisers' Professional Indemnity - Ooops.

I've always thought that they had a huge amount in common with bookmakers
but are not as smart at laying off risks and have wondered about going to
William Hills and asking how much the stake needs to be to get a pay off if
someone sues me.

I've asked my broker for an advance warning of what next year's premium is
going to be but haven't had a response yet.  I imagine I'll get the same big
hike everyone else seems to have, plus the usual flannel about value for
money etc.  Mind you it is a lot less than solicitors pay.  A local firm
here pays about £24,000 premium for one partner, which is truly frightening.

Best wishes for 2003 everyone


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