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Well if you are too bone idle to read things you sign that's your own outlook. I actually read stuff I put my name too because I'm naturally cautious. I had that with an egg card I was opted in to ppi, but because I bothered to read stuff I just unchecked the ppi box.
Here is an amazing deal just sign here, don't read it, it called your own death warrant.
'Resilient results'
In the run up to the deadline, Lloyds said it had received about 5 million new claims but only about 10% of those resulted in a compensation payment
John Moore, an investment manager at Brewin Dolphin, said Lloyds appeared to be in a "decent place",
"Political uncertainty influenced business and consumer confidence last year; yet, despite this challenge, the bank has posted resilient results."
https://www.bbc.com/news/business-51570395
So I have given £77000 to the pot
Blinking heck
Quite right Boomer, actually I don't have any insurance at all, except for the car. You may say what happens if your house suffers storm damage and I would say that I have enough funds to handle that very unlikely event. No we don't have fires or burglars both are completely avoidable hazards but some people don't take the necessary steps.
I'm with you Eccles. Ok I'm pretty wealthy Vs average punter, but insurance is normally unecessary. I only have buildings and car insurance that's it. I don't buy holiday insurance etc, just a waste of money. I take the gamble in life.
In fact the only pleasure money really gives me is helping out my children.
No holiday insurance is a great money-saving idea. You can save such a lot of money and it only costs tens or hundreds of thousands of pounds if you need to be repatriated on a stretcher. Good financial tips always welcome here.
"In the run up to the end of August Lloyds received 5 million new claims but only 10% resulted in a compensation payment".
Lloyds find it oh so hard to be open and state facts. Historically, Lloyd's have received around 275,00 claims a month since 2011. In March of last year they calculated that the £1.3 Billion set aside would be sufficient if the level of claims didn't increase. Just over what period the 5 million new claims were received is not mentioned, so we are left guessing. If we assume that July onwards saw the spike occur, this would tie in to the extra £550 million being set aside. But they were already allowing for 550 ,000 claims, so do we assume that 4.5 million additional claims were received in this period. £2,500 compensation per claim would cost a total of £1 Billion, yet they have set aside two and a half times this amount.
Open and honest lloyds are not and never have been. We'll be left guessing until year end 2020 when Lloyd's write the last compensation cheque. It would be interesting to hear from some of the claims' handlers how they are experiencing this whole process because the Board do not like us to have the facts.
LOL he is probably not up to hitting the ski slopes, scuba diving or waterskiing, probably the most activity he manages is lying on a sunbed :-)
Twonko guessing you don't get the concept of risk? No that would need a brain first.
Why do I need to insure against eventualities I can well afford? Do you insure before every meal in case you choke twonko?
Grayling I ran a 1:32 half last year (uninsured) which is far faster than your giant arse and massless brain could do.
Putting on a bib and trainers and running for a couple of hours is hardly a life threatening risk now is it? Still what you do on your holidays is up to you :-) I would say that paying a few quid to avoid £12-15K Medevac costs (excluding medical bills) is just plain common sense, particularly if you er to the adventurous.
Ppl die running marathons and half marathons all the time.
But I simply do not expect £12 -£15k medevac costs will ever happen and we all know that Insurance cos will do all in their power to avoid paying. So why should I hand hard earned cash over to these daylight thieves? I have never bought travel insurance in my life and certainly in my younger days of traveiiling, it was virtually unheard of then certain travel cos started offering it and folk got hooked but I ain't that daft and don't do silly things like skiing and white water.
Generally the insurance is funding ppl who sit and get very sunburnt, the elderly or ppl who use drink and drugs excessively. I'm not in these categories so don't need to find them. I only insure where loss is ruinous.
Eccles04 I take it you mean you are past skiing and white water rafting then? Enjoy your retirement :-)
I get it Boomer. There's risk and then there's stupid. The art is to know which is which.
Gosh Boomer. Just noticed you run really fast and are really wealthy. What a guy!
Thanks Twonko. Real kind. Wish I was amazing like you.
Well yes but even in my youth I could see from friends and associates coming back from "holiday" with cracked bones, etc., that sking and ww were dumb things to do so I never did. Then an old friend did scuba had a cardiac problem and died so that was crossed off too. But it's exciting they all cry, and so is hooking a big fish (one of my hobbies) but you don't get injured.
I think these two would be happier if we were poor and stupid and relied on government hand outs eccles, and base jumped daily. Somehow that would make their lives better. Not sure how but they'd feel that superior feeling they crave because their politics makes them better ppl.
Eccles Deary deary me I am surprised you can pluck up the courage to cross the road lest you be mowed down by one of those newfangled horseless carriages! Talk about risk averse! I bet you are a barrel of laughs down the local (if you dare to venture that far). Still nursey will be along with the meds soon, so you just stare out of the window and dream about going fishing until comfort arrives. Ps I executed a particulary poor Spey cast on the Oykel a while back and nearly ripped me ear off with an Ally's Shrimp, so fishing brings its own hazards matey :-)
longtimeinvestor, lets be fair if the banks hadn't offered PPI knowing there may befuture consequences then don't blame people for putting a in claims.
The banks were quite aware of what they were doing selling something to people wanting a loan/mortgage etc and not being honest about it, maybe if in the case of Lloyds our CEO had not gone down the road of not contesting any claim there may not have been as many claimants.
Im badly constipated - I can tell you its no fun