Is it a Tiger? Is is a Cow?

I recently read ‘Churchill in Quotes’ and many of the things he said then are just as applicable today. For example “Some people regard private enterprise as a predatory tiger to be shot, others look at it as a cow they can milk. Not enough people see it as a healthy horse pulling a sturdy wagon”

I picked on this one because over the weekend and today there have been two cabinet ministers who have chosen to have a go at business and suggest we all have to work harder. 

It’s becoming clearer by the day that none of them are aware of what business folk and most still in work do, and it’s abundantly clear that they need to get out more.

I say this because it isn’t easy out there and where we all thought things were steadying now we see it's now quite pear shaped but looking like it will get worse before it levels out.

Everyone is still looking to cut back and an obvious area is insurance which has done no one any favours with the heavy increases over the last few years. But much as it may be right if you’ve not had a claim to think you will go without I would suggest don’t get shot altogether, scale down the cover and perhaps increase the excess. 

I’ve said it before that insurance plays on the emotion of fear so in times like this a lot of people are confused whether to stay with it or go without. In business there are legal obligations to ensure there is cover for public and employers liability, but when its contents replacement may not be as expensive as had been thought .  Make sure the alarm is working and as that supermarket ad says: every little bit helps. 

Thinking the same way a reduction on value of replacement can save money on the premium to be paid. It may not be a satisfactory result but it’s better to have cover than none at all. 

As for the politicians inability to understand what private enterprise does or how it’s run, just remember at Trident we understand only too well what you’re up against and are here to help you whenever we can.      

WHAPA! Whiplash!

The issue of claiming for whiplash is very contentious, given no one has managed to establish what actually is involved, apart from that a rear end shunt will clearly have an impact on the driver and passengers of the vehicle in front.

There was a story recently where a driver hit another car where he could only see the driver in front but when the claim came in there were claims for the driver and four other family members.  The Insurer had to pay out because there was no way of proving the ‘passengers’ weren’t in the car. 

Some might say it’s a cool way to make money but many others see it as a real abuse of the system, particularly Insurers. Fraud is becoming a serious problem and whiplash claims have gone crazy with the average pay-out now between £2,500-£3000. 

Accident management firms are viewed as vultures on the system because the increase in premiums is put down to their success.  Whilst that may be so, if I was involved in an accident, I would want the best pay-out possible and it takes an independent party to secure that.

In short I have nothing but contempt for those who put in fraudulent claims, and whiplash is the old favourite. Perhaps new legislation will limit the pay-outs on many ‘dubious’ claims but if Insurance is to work properly and people are to be enthused to buy it, then it must be seen that in the event of an accident that is not fraudulent, those who have the right cover are fully compensated and not palmed off with an insulting offer.