Insurance claim that begat trouble?

SA_SA_SA
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Insurance claim that begat trouble?

Postby SA_SA_SA » 24 Oct 2016, 5:40pm

I have seen it claimed that a few large 3rd party insurance liability claims led to a money shortage that was claimed to justify the Technical and Touring Officer redundancy (even though this was promptly followed by the recruitment of a Communications Officer and others..).

I am curious what would cause such large claims...
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Philip Benstead
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Re: Insurance claim that begat trouble?

Postby Philip Benstead » 24 Oct 2016, 6:29pm

I think somebody became quadriplegic??
Philip Benstead | CTC London and FORMER CTC Councillor SE
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SA_SA_SA
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Re: Insurance claim that begat trouble?

Postby SA_SA_SA » 27 Oct 2016, 6:13pm

I presumed it would involve multiple persons like a Bus.
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RickH
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Re: Insurance claim that begat trouble?

Postby RickH » 28 Oct 2016, 12:14am

Has anyone got the teensiest, tiniest bit of evidence?

Or is it one of those tales - "the earth is flat"/"the moon landings were faked"/ "the government has been taken over by reptilian aliens in disguise" (although that one is seeming increasingly plausible! :wink: ) that if repeated enough gets accepted as true (at least by some)?

I doubt very much that Cycling UK stumps up for claims off their own bat anyway, they will have cover from an insurer. If there were a great increase in claim values then the policy cost would go up somewhat but it would be worked out on averages rather than a single claim.

A big claim (or several over the years) might be the reason for a the increase in the cover limit. I suspect that is worked out by a "what's the biggest claim likely to be, or has actually happened" plus a healthy margin (50%?, 100%) in case that is an underestimate.

SA_SA_SA
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Re: Insurance claim that begat trouble?

Postby SA_SA_SA » 21 Jan 2017, 9:04pm

Also, other insurers seem happy to insure random cyclists for eg a tenner:
I wonder does seeking out insurance yourself rather than getting it unasked for with club membership make you a (slightly) better risk?

On the Where should CTC be going? facebook page, said 'mismanagement of the third-party insurance scheme required cost-savings elsewhere" .
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thirdcrank
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Re: Insurance claim that begat trouble?

Postby thirdcrank » 21 Jan 2017, 9:11pm

SA_SA_SA wrote: ... On the Where should CTC be going? facebook page, said 'mismanagement of the third-party insurance scheme required cost-savings elsewhere" .


I'm unclear as to whether you are quoting an official CTC source on facebook, or simply recycling someone's unreferenced assertion. :?

irc
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Re: Insurance claim that begat trouble?

Postby irc » 21 Jan 2017, 9:32pm

A history of claims would mean the 3rd party insurer reassessing the risk and perhaps increasing the premiums. If this was based on one or two claims for permanent disablement the cost could be in the millions. The salary of a technical officer or two would be a drop in the ocean.