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The Bankstone News team keep a sideways-slanting eye on current developments in the world of motor insurance. Boldly grasping the wrong end of any news stick going, Bankstone News keeps its loyal readers comprehensively misinformed and (just occasionally) mildly amused.

Bankstone News

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All blazers gunning

April 16, 2018

There are basically just two things you need to make it in the world of insurance. One is a mile-wide competitive streak. There other, clearly, is a blazer.

But on certain special days of the year, even the blazer is optional. One such opportunity for informality occurs when the great and the good of the motor insurance market gather somewhere near Grantham to race karts. The name of that opportunity is Insurance Endurance.

And who better to fill you in on all details, you’re probably thinking, than Bankstone News!

You’re right, of course, who better indeed! But given that time waits for no man (nor woman neither) and that – even as we write this – they’ve already been serving at the Badgers for the best part of an hour, we’re going to leave that task to Insurance Business UK (a sort of a disintermediated news website that largely dispenses with the distorting lens of journalism to deliver the pure undiluted  truth, direct from the original press release).

Here’s how IBUK reported on the happy day this summer when insurance people will once set aside their habitual commercial rivalries (and their blazers) to buzz around a lengthy twisting stretch of tyre-lined tarmac for literally hours on end:

Insurers’ day to ditch the blazer and don racing suits

It’s a competitive industry all right, but who said people in insurance can’t enjoy themselves while trying to outdo each other? All in the name of good clean fun, of course. 

With everyday work feeling like a race to the top, here’s a literal race that insurance workers can participate in – a six-hour endurance kart race happening at the UK’s largest outdoor karting circuit. Teams of between four and eight drivers get to compete in Sodi GT5 karts at the PFI Racetrack in Grantham.

Insurance Endurance, aside from being a creative means to network with industry peers, also serves as a fundraising event for The Insurance Charities, whose beneficiaries are insurance employees in the UK and Ireland.

“We’re delighted to be chosen as the nominated charity for this event,” said marketing and communications executive Emma Bangar. “We welcome the opportunity to meet people working in insurance face-to-face and to tell them about The Insurance Charities and how we are able to help and support those working in this industry.”

The event, which has a practice round prior to the race, will also feature the pit stop challenge, wherein teams change the tyres of a Formula 1 car in the quickest time possible before returning to the endurance track.

More than 80 drivers took part in last year’s edition. Insurance Endurance 2018 happens on June 26.

He’d rather be karting!


Industry News

Latest Article

Coach-load of conmen caught out

April 13, 2018

It’s long been proverbial wisdom on the correct side of the Pennines that you should ‘Never trust a Wigan Man, He’ll lie and cheat you if he can.’ And it’s not just Yorkshire folk who look at Wiganers with a wary eye.

Persistent allegations of endemic mendacity have dogged the town since long before notorious fibbers like George ‘Misleading Lyrics’ Formby, James ‘Hotline to Heaven’ Anderton, and Dave ‘Lying B*stard’ Doggleby brought the place into contemporary disrepute.

Dispelling that unwelcome reputation won’t be any easier after a coach load of Wigan lads on a stag outing filed almost 20 risibly fraudulent whiplash claims following a day out at Chester races.

The growing cost of attending stag events (even when they don’t involve occupying an entire floor of a Latvian super-brothel for four or five days straight) has been a worry for many sociably inclined young Brits for a number of years.

It’s only natural, then, that where an opportunity arises to offset those costs (via the simple expedient of helping oneself to several generous handfuls from the vast cash-piles with which insurers’ coffers overflow), staggers are apt to latch on to it with nothing short of febrile avidity.

Coach-party whiplash claims are increasingly a thing these days – with even randomly assembled bus passengers sometimes now getting in on the act. But in this case, clear collusion between 17 passengers resulted in an attempted fraud so spectacularly hamfisted that, for insurers L=Ve, heading it off was as easy as taking candy back from a baby.

As soon as a claim involving multiple Wiganites came in, alarm bells must have been ringing at LxV HQ. The story was that the jarring impact of a low-speed side-on collision with a tiny little car had caused extreme cervical trauma to multiple occupants of the luxury stag coach on the way over to Chester races, where only the consumption of almost superhuman quantities of alcohol enabled the assembled Young Wiganians to soldier on through a day of pain and then through further carousing back in Wigan.

Over the following days, the various stag persons arrived in dribs and drabs at their local GP’s surgeries complaining of a wide array of supposedly neck-injury related complaints, remembering in many cases to evince symptoms of pain and restricted movement only when attending a subsequent appointment with a physiotherapist.

Their stories varied and shifted repeatedly. Upon it being pointed out, for instance, that a glancing impact with a tiny little car will rarely induce cervical devastation, several claimants quickly said it must have been the driver slamming on the brakes, an aspect of the incident not previously remarked upon. But the claimants’ trump card appeared to be a profusion of supporting statements from friends and families (again, remember, these are Wigan people we’re talking about, into whose mouths an untruth comes as easily as a wad of sputum into that of a trundling ‘Lactics’ midfielder).

Tragically, this lavishly compiled supporting material backfired badly when various since-separated former partners revealed at trial that their testimony was but a tissue of contrivance. Faced with this and multiple other compelling proofs of ill-concealed fakery, Judge Greg, presiding, had no hesitation in finding all 17 to be fundamentally dishonest (we could have told him that), thereby saving L:V around £400,000, and thus helping reduce premiums for decent ordinary etc…

“Fraud doesn’t pay,” commented L%V claims director Millicent Martin, adding wryly that “these conmen should have waited til they got to the racecourse before they tried to gamble on a long shot!”

If that doesn’t raise a titter, there are surely no more titters to be raised!

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