LIMP 45

Latest issue of London market newsletterroger foord associates – London and Global Insurance Systems Solutions, Marketing and PR 107 Leadenhall Street, London EC3A 4AH Tel: 020-7891-2701 Mobile: 07710-479070 e-mail: info@rogerfoord.com web: www.rogerfoord.com 1st April 2005 LIMP No.45 Welcome to the latest free issue of LIMP. (Past issues and my published articles are entered on the ‘news’ section of my website www.rogerfoord.com). I like to ensure that all of the content is true and has complete relevance to the London insurance market. ********************************************************************************************** In this issue: * Welcome to new members * FSA – to regulate alcohol consumption in the city * Electronic trading – compulsory for all Lloyd’s underwriters * Profits frighten off clients * Why buy cheap? * and finally……….. *************************************************************************************************** Welcome to New Members: Warren Buffett H Greenberg ex of AIG The above both cancelled after two days Eliot Spritzer of the Californian white wine board ************************************************************************************************* FSA There has been an ongoing problem with the FSA and the ability of the London market to be successful in the afternoons. We all know that all good business is done over a good lunch and the whole subscription market and the nuances of the London market relate to who is seeing who and why. However much this is regulated will not worry the global client or the rate at which the ‘lead’ agrees. The FSA however, who are dedicated to costs savings (have you seen their offices in the Docklands?) say that they need to regulate the food and alcohol level in the London insurance market. As such they are installing breathalyzers in the Lloyd’s building and the LUC as from 1st July 2005. Anybody over the limit will not be allowed in and will therefore have to go back to the wine bar they came from, where all of their broker friends will still be there and they can carry on writing some good business. The rule is of immediate effect. ************************************************************************************************* Electronic Trading – Compulsory use The recent success of electronic platforms in the Lloyd’s market, that is multiple brokers and underwriters eager to get into a non face-to-face business situation, has give the market a strong position to enforce electronic trading. As such the powers that be have decreed that they will be enforcing the use of electronic trading as from July 1st 2080. Anybody not ready for this will be unable to write London market business. ************************************************************************************************* Contract Certainty This is such a major issue that it is impossible for the London market to ignore it. It is the reason for all of the star players in London to have a reason to live and also it is what keeps every dinner party going. The overall cost for its acceptance is put modestly at £500 million and is therefore seen as a ‘no brainer’. Brokers, who are unsure as to what to do have been told that they can still, when necessary, carry on using the ‘back of a fag packet’ for policy wordings. ************************************************************************************************* Profits Frighten off Clients The profits that are being made by companies and brokers in the London insurance market have suddenly replaced the markets business problems as a big issue with clients. They are reported to have made it known they could not care less about contract certainty, LMP slips or BPR but can see that the money made by the London insurance market is their money and they want cheaper rates. How stupid are the clients? ************************************************************************************************* The buy cheap when it’s not your money? The Lloyd’s IT club has been meeting happily at the conference centre in Minster Court for a couple of years and part of the deal was to allow the London market to use the location also for more or less a free charge. The BPR group however seem to have thought that this was not good enough for them (they do like spending other people’s money) and have moved the location of their market information event to the Tower Room at the LUC (cost £1350 per half day, not even by the hour). Maybe it makes sense but now the security of entrance is difficult, the cost is higher, the relaxed atmosphere has gone, and finally afterwards the attendees have to traipse to another part of Minster Court for the IT Club. Obviously the new people running the market are all too posh for us mere mortals and cost is no object. ************************************************************************************************* …and finally happy April 1st . Oh and by the way, one of the above was true. Best Wishes Roger info@rogerfoord.com www.rogerfoord.com 020-7891-2701

LIMP 45

LIMP 45

Latest issue of London market newsletterroger foord associates – London and Global Insurance Systems Solutions, Marketing and PR 107 Leadenhall Street, London EC3A 4AH Tel: 020-7891-2701 Mobile: 07710-479070 e-mail: info@rogerfoord.com web: www.rogerfoord.com 1st April 2005 LIMP No.45 Welcome to the latest free issue of LIMP. (Past issues and my published articles are entered on the ‘news’ section of my website www.rogerfoord.com). I like to ensure that all of the content is true and has complete relevance to the London insurance market. ********************************************************************************************** In this issue: * Welcome to new members * FSA – to regulate alcohol consumption in the city * Electronic trading – compulsory for all Lloyd’s underwriters * Profits frighten off clients * Why buy cheap? * and finally……….. *************************************************************************************************** Welcome to New Members: Warren Buffett H Greenberg ex of AIG The above both cancelled after two days Eliot Spritzer of the Californian white wine board ************************************************************************************************* FSA There has been an ongoing problem with the FSA and the ability of the London market to be successful in the afternoons. We all know that all good business is done over a good lunch and the whole subscription market and the nuances of the London market relate to who is seeing who and why. However much this is regulated will not worry the global client or the rate at which the ‘lead’ agrees. The FSA however, who are dedicated to costs savings (have you seen their offices in the Docklands?) say that they need to regulate the food and alcohol level in the London insurance market. As such they are installing breathalyzers in the Lloyd’s building and the LUC as from 1st July 2005. Anybody over the limit will not be allowed in and will therefore have to go back to the wine bar they came from, where all of their broker friends will still be there and they can carry on writing some good business. The rule is of immediate effect. ************************************************************************************************* Electronic Trading – Compulsory use The recent success of electronic platforms in the Lloyd’s market, that is multiple brokers and underwriters eager to get into a non face-to-face business situation, has give the market a strong position to enforce electronic trading. As such the powers that be have decreed that they will be enforcing the use of electronic trading as from July 1st 2080. Anybody not ready for this will be unable to write London market business. ************************************************************************************************* Contract Certainty This is such a major issue that it is impossible for the London market to ignore it. It is the reason for all of the star players in London to have a reason to live and also it is what keeps every dinner party going. The overall cost for its acceptance is put modestly at £500 million and is therefore seen as a ‘no brainer’. Brokers, who are unsure as to what to do have been told that they can still, when necessary, carry on using the ‘back of a fag packet’ for policy wordings. ************************************************************************************************* Profits Frighten off Clients The profits that are being made by companies and brokers in the London insurance market have suddenly replaced the markets business problems as a big issue with clients. They are reported to have made it known they could not care less about contract certainty, LMP slips or BPR but can see that the money made by the London insurance market is their money and they want cheaper rates. How stupid are the clients? ************************************************************************************************* The buy cheap when it’s not your money? The Lloyd’s IT club has been meeting happily at the conference centre in Minster Court for a couple of years and part of the deal was to allow the London market to use the location also for more or less a free charge. The BPR group however seem to have thought that this was not good enough for them (they do like spending other people’s money) and have moved the location of their market information event to the Tower Room at the LUC (cost £1350 per half day, not even by the hour). Maybe it makes sense but now the security of entrance is difficult, the cost is higher, the relaxed atmosphere has gone, and finally afterwards the attendees have to traipse to another part of Minster Court for the IT Club. Obviously the new people running the market are all too posh for us mere mortals and cost is no object. ************************************************************************************************* …and finally happy April 1st . Oh and by the way, one of the above was true. Best Wishes Roger info@rogerfoord.com www.rogerfoord.com 020-7891-2701

Latest issue of London market newsletterroger foord associates – London and Global Insurance Systems Solutions, Marketing and PR 107 Leadenhall Street, London EC3A 4AH Tel: 020-7891-2701 Mobile: 07710-479070 e-mail: info@rogerfoord.com web: www.rogerfoord.com 1st April 2005 LIMP No.45 Welcome to the latest free issue of LIMP. (Past issues and my published articles are entered on the ‘news’ section of my website www.rogerfoord.com). I like to ensure that all of the content is true and has complete relevance to the London insurance market. ********************************************************************************************** In this issue: * Welcome to new members * FSA – to regulate alcohol consumption in the city * Electronic trading – compulsory for all Lloyd’s underwriters * Profits frighten off clients * Why buy cheap? * and finally……….. *************************************************************************************************** Welcome to New Members: Warren Buffett H Greenberg ex of AIG The above both cancelled after two days Eliot Spritzer of the Californian white wine board ************************************************************************************************* FSA There has been an ongoing problem with the FSA and the ability of the London market to be successful in the afternoons. We all know that all good business is done over a good lunch and the whole subscription market and the nuances of the London market relate to who is seeing who and why. However much this is regulated will not worry the global client or the rate at which the ‘lead’ agrees. The FSA however, who are dedicated to costs savings (have you seen their offices in the Docklands?) say that they need to regulate the food and alcohol level in the London insurance market. As such they are installing breathalyzers in the Lloyd’s building and the LUC as from 1st July 2005. Anybody over the limit will not be allowed in and will therefore have to go back to the wine bar they came from, where all of their broker friends will still be there and they can carry on writing some good business. The rule is of immediate effect. ************************************************************************************************* Electronic Trading – Compulsory use The recent success of electronic platforms in the Lloyd’s market, that is multiple brokers and underwriters eager to get into a non face-to-face business situation, has give the market a strong position to enforce electronic trading. As such the powers that be have decreed that they will be enforcing the use of electronic trading as from July 1st 2080. Anybody not ready for this will be unable to write London market business. ************************************************************************************************* Contract Certainty This is such a major issue that it is impossible for the London market to ignore it. It is the reason for all of the star players in London to have a reason to live and also it is what keeps every dinner party going. The overall cost for its acceptance is put modestly at £500 million and is therefore seen as a ‘no brainer’. Brokers, who are unsure as to what to do have been told that they can still, when necessary, carry on using the ‘back of a fag packet’ for policy wordings. ************************************************************************************************* Profits Frighten off Clients The profits that are being made by companies and brokers in the London insurance market have suddenly replaced the markets business problems as a big issue with clients. They are reported to have made it known they could not care less about contract certainty, LMP slips or BPR but can see that the money made by the London insurance market is their money and they want cheaper rates. How stupid are the clients? ************************************************************************************************* The buy cheap when it’s not your money? The Lloyd’s IT club has been meeting happily at the conference centre in Minster Court for a couple of years and part of the deal was to allow the London market to use the location also for more or less a free charge. The BPR group however seem to have thought that this was not good enough for them (they do like spending other people’s money) and have moved the location of their market information event to the Tower Room at the LUC (cost £1350 per half day, not even by the hour). Maybe it makes sense but now the security of entrance is difficult, the cost is higher, the relaxed atmosphere has gone, and finally afterwards the attendees have to traipse to another part of Minster Court for the IT Club. Obviously the new people running the market are all too posh for us mere mortals and cost is no object. ************************************************************************************************* …and finally happy April 1st . Oh and by the way, one of the above was true. Best Wishes Roger info@rogerfoord.com www.rogerfoord.com 020-7891-2701

LIMP 45

Latest issue of London market newsletterroger foord associates – London and Global Insurance Systems Solutions, Marketing and PR 107 Leadenhall Street, London EC3A 4AH Tel: 020-7891-2701 Mobile: 07710-479070 e-mail: info@rogerfoord.com web: www.rogerfoord.com 1st April 2005 LIMP No.45 Welcome to the latest free issue of LIMP. (Past issues and my published articles are entered on the ‘news’ section of my website www.rogerfoord.com). I like to ensure that all of the content is true and has complete relevance to the London insurance market. ********************************************************************************************** In this issue: * Welcome to new members * FSA – to regulate alcohol consumption in the city * Electronic trading – compulsory for all Lloyd’s underwriters * Profits frighten off clients * Why buy cheap? * and finally……….. *************************************************************************************************** Welcome to New Members: Warren Buffett H Greenberg ex of AIG The above both cancelled after two days Eliot Spritzer of the Californian white wine board ************************************************************************************************* FSA There has been an ongoing problem with the FSA and the ability of the London market to be successful in the afternoons. We all know that all good business is done over a good lunch and the whole subscription market and the nuances of the London market relate to who is seeing who and why. However much this is regulated will not worry the global client or the rate at which the ‘lead’ agrees. The FSA however, who are dedicated to costs savings (have you seen their offices in the Docklands?) say that they need to regulate the food and alcohol level in the London insurance market. As such they are installing breathalyzers in the Lloyd’s building and the LUC as from 1st July 2005. Anybody over the limit will not be allowed in and will therefore have to go back to the wine bar they came from, where all of their broker friends will still be there and they can carry on writing some good business. The rule is of immediate effect. ************************************************************************************************* Electronic Trading – Compulsory use The recent success of electronic platforms in the Lloyd’s market, that is multiple brokers and underwriters eager to get into a non face-to-face business situation, has give the market a strong position to enforce electronic trading. As such the powers that be have decreed that they will be enforcing the use of electronic trading as from July 1st 2080. Anybody not ready for this will be unable to write London market business. ************************************************************************************************* Contract Certainty This is such a major issue that it is impossible for the London market to ignore it. It is the reason for all of the star players in London to have a reason to live and also it is what keeps every dinner party going. The overall cost for its acceptance is put modestly at £500 million and is therefore seen as a ‘no brainer’. Brokers, who are unsure as to what to do have been told that they can still, when necessary, carry on using the ‘back of a fag packet’ for policy wordings. ************************************************************************************************* Profits Frighten off Clients The profits that are being made by companies and brokers in the London insurance market have suddenly replaced the markets business problems as a big issue with clients. They are reported to have made it known they could not care less about contract certainty, LMP slips or BPR but can see that the money made by the London insurance market is their money and they want cheaper rates. How stupid are the clients? ************************************************************************************************* The buy cheap when it’s not your money? The Lloyd’s IT club has been meeting happily at the conference centre in Minster Court for a couple of years and part of the deal was to allow the London market to use the location also for more or less a free charge. The BPR group however seem to have thought that this was not good enough for them (they do like spending other people’s money) and have moved the location of their market information event to the Tower Room at the LUC (cost £1350 per half day, not even by the hour). Maybe it makes sense but now the security of entrance is difficult, the cost is higher, the relaxed atmosphere has gone, and finally afterwards the attendees have to traipse to another part of Minster Court for the IT Club. Obviously the new people running the market are all too posh for us mere mortals and cost is no object. ************************************************************************************************* …and finally happy April 1st . Oh and by the way, one of the above was true. Best Wishes Roger info@rogerfoord.com www.rogerfoord.com 020-7891-2701

Latest issue of London market newsletterroger foord associates – London and Global Insurance Systems Solutions, Marketing and PR 107 Leadenhall Street, London EC3A 4AH Tel: 020-7891-2701 Mobile: 07710-479070 e-mail: info@rogerfoord.com web: www.rogerfoord.com 1st April 2005 LIMP No.45 Welcome to the latest free issue of LIMP. (Past issues and my published articles are entered on the ‘news’ section of my website www.rogerfoord.com). I like to ensure that all of the content is true and has complete relevance to the London insurance market. ********************************************************************************************** In this issue: * Welcome to new members * FSA – to regulate alcohol consumption in the city * Electronic trading – compulsory for all Lloyd’s underwriters * Profits frighten off clients * Why buy cheap? * and finally……….. *************************************************************************************************** Welcome to New Members: Warren Buffett H Greenberg ex of AIG The above both cancelled after two days Eliot Spritzer of the Californian white wine board ************************************************************************************************* FSA There has been an ongoing problem with the FSA and the ability of the London market to be successful in the afternoons. We all know that all good business is done over a good lunch and the whole subscription market and the nuances of the London market relate to who is seeing who and why. However much this is regulated will not worry the global client or the rate at which the ‘lead’ agrees. The FSA however, who are dedicated to costs savings (have you seen their offices in the Docklands?) say that they need to regulate the food and alcohol level in the London insurance market. As such they are installing breathalyzers in the Lloyd’s building and the LUC as from 1st July 2005. Anybody over the limit will not be allowed in and will therefore have to go back to the wine bar they came from, where all of their broker friends will still be there and they can carry on writing some good business. The rule is of immediate effect. ************************************************************************************************* Electronic Trading – Compulsory use The recent success of electronic platforms in the Lloyd’s market, that is multiple brokers and underwriters eager to get into a non face-to-face business situation, has give the market a strong position to enforce electronic trading. As such the powers that be have decreed that they will be enforcing the use of electronic trading as from July 1st 2080. Anybody not ready for this will be unable to write London market business. ************************************************************************************************* Contract Certainty This is such a major issue that it is impossible for the London market to ignore it. It is the reason for all of the star players in London to have a reason to live and also it is what keeps every dinner party going. The overall cost for its acceptance is put modestly at £500 million and is therefore seen as a ‘no brainer’. Brokers, who are unsure as to what to do have been told that they can still, when necessary, carry on using the ‘back of a fag packet’ for policy wordings. ************************************************************************************************* Profits Frighten off Clients The profits that are being made by companies and brokers in the London insurance market have suddenly replaced the markets business problems as a big issue with clients. They are reported to have made it known they could not care less about contract certainty, LMP slips or BPR but can see that the money made by the London insurance market is their money and they want cheaper rates. How stupid are the clients? ************************************************************************************************* The buy cheap when it’s not your money? The Lloyd’s IT club has been meeting happily at the conference centre in Minster Court for a couple of years and part of the deal was to allow the London market to use the location also for more or less a free charge. The BPR group however seem to have thought that this was not good enough for them (they do like spending other people’s money) and have moved the location of their market information event to the Tower Room at the LUC (cost £1350 per half day, not even by the hour). Maybe it makes sense but now the security of entrance is difficult, the cost is higher, the relaxed atmosphere has gone, and finally afterwards the attendees have to traipse to another part of Minster Court for the IT Club. Obviously the new people running the market are all too posh for us mere mortals and cost is no object. ************************************************************************************************* …and finally happy April 1st . Oh and by the way, one of the above was true. Best Wishes Roger info@rogerfoord.com www.rogerfoord.com 020-7891-2701

UK Job Boards | UK engineering jobs | UK sales jobs | UK retail jobs | UK management and executive jobs | UK IT jobs | UK website hosting | UK administration and secretarial jobs | UK jobs | uk recruitment websites | uk engineering jobs | geodesic domes | london insurance market news | Gresham business consultants London | Recruitment firms watford drivers jobs | Adams Arts and Antiques garden statuary, ornaments and animal statues UK | uk website design