Commission

Maradona

Apropos nothing much at all (well kind of) - there's an even scaried picture of poor aul Maradona in the supplement (Arena?) with today's Examiner. Unfortunately (or maybe fortunately) I can't link to it as I have never been arsed enough to register in order to read de paper online.

Re: Maradona

Dear Dear !! Maradonna

What glorified name do Bancassurers have for the money they pay to their sales reps and where does this money come from? Seems like it's none of the above.

Commission = Backhander . Nice to get the emotions out in the open. Obviously, heavily frothing at the mouth :lol

Re: Indifference

Hi Freddy

<!--EZCODE ITALIC START--> "Ooops! Product 1 has a £3pm policy fee.
Punter is 45 and is spending £500 per month to age 60"<!--EZCODE ITALIC END-->

Haven't bothered to do the modelling (I'm not a financial adviser, you see, so I've no duty to) but it looks to me like !Product 1 is going to be the more expensive.

You didn't answer my questions about what commissions (if any) the two products pay?

<!--EZCODE ITALIC START--> "I agree with you points about 'human nature' being what it is and 'creating incentives to breach duty'. Temptation will be there, but surely some can resist."<!--EZCODE ITALIC END-->

Indeed they can, and I like to think that most will resist, most of the time. But my objection is to a system which sets up institutionalised temptation in this way.

Re: Indifference

Hi UDS,

Product 1 doesn't / Product 2 does.

Now, a favour from you? Would you ever update the 'Investment Race' or post a link to the site which has the relevant data for updating?:\

BTW Do you think that the temptation should be taken out of the following

<!--EZCODE QUOTE START--><blockquote>Quote:<hr> We (IIF) estimate that over 42% of the cost of personal injury compensation is paid in legal fees and disbursments. In smaller cases legal fees can even exceed the compensation paid.<hr></blockquote><!--EZCODE QUOTE END-->

Re: Indifference

Hi Freddie

Yes, certainly, I'll update the investment race figures, but I can;t find the bl**dy thing; can you post a link?

As to the legal component in PI compensation, yes, it's too high and, yes, it creates an incentive for lawyers to foment or magnify claims and, yes, this is wrong. To my mind the remedy lies to some extent in the hands of the IIF themselves - better claims management and a greater willingness to settle claims more than 10 minutes before the High Court hearing is due to begin would dramatically reduce legal costs. The fact is that relatively few PI claims which are pursued to trial are unsuccessful, suggesting to me that the bulk of claims which insurers choose to fight rather than settle are in fact well-founded claims, and more of them should be settled at an earlier stage. It may be that the insurers have good commercial reasons for not settling them - presumably they have - but a strategy of systematically resisting well-founded claims is inevitably going to increase legal costs all round, and I do not think the IIF can complain about this if it is a strategy which they are pursuing for their own commercial objectives.

Investment Race

Is it by any chance? Never understood what this Investment Race thingy was all about meself... :|

Re: Investment Race

No. It's here now

Re: Investment Race

No, that's on the old site and it can't be updated. I've found the current version here:

I've posted updated eurostoxx figures