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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.
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.
Ppl die running marathons and half marathons all the time.
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.
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.
Twonko guessing you don't get the concept of risk? No that would need a brain first.
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 :-)
"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.
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 fact the only pleasure money really gives me is helping out my children.
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.
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.
So I have given £77000 to the pot
Blinking heck
'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
Here is an amazing deal just sign here, don't read it, it called your own death warrant.
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.
"Claiming PPI was at least a way or gettimg back some of the losses that you have suffered over the time"
Sorry, but I was never brought up to be a thief.
Many moons ago I took out a couple of low interest home improvemnt loans with Barclays and I was totally unaware that the repayments included PPI as this information was most likely buried in the 10 or so pages of small print and not mentioned in any of the cover letters I received from the bank. Interestingly, before I had even heard about miss selling of same I received a letter from Barclays offering me £ 500 or so to "compensate" me for "unspecified errors" to do with "previous transactions" and that if I accepted their offer it would preclude me taking any further action against the bank. I do not bank with Barclays and had always paid off my Barclaycard balance in full each month, so the transactions could only have been the loans, but as I say the letter was completely vague. I took the cash and thought nothing more of it until a year or so later when the s**t hit the proverbial. So the banks clearly knew well in advance that they had transgressed and my sympathy for them is therefore nil, nada, zero.
I calculate it at 31.4p Rich. But truly staggering sum.
I dont understand your ethics..you were a shareholder watching all around you rip off the bank and yourself.
Claiming PPI was at least a way or gettimg back some of the losses that you have suffered over the time
No more PPI start of a new era for Lloyds
I seem to be in a minority. I had PPI for a time. I knew what it was for. No one twisted my arm. I never claimed on the policy nor did I claim subsequently. I got what I paid for.
To put it into perspective, if the PPI compensation had been paid out as dividends, each share held would have received 31.5p. It is mind blowing how the shareholders have been treated by successive Boards.
Skier with that work ethic you should pursue a career at HMRC! Was your family motto, "take em for all you can son".
We got £4k cash back from PPI. Equivalent to a +10% net gain on £40k of Lloyds stock. It was great.