June 9, 2017

Despite clear and unequivocal instructions from the likes of Rupert Murdoch and Viscount Rothermere, the British People have signally failed to equip Theresa Mary May with the strong and stable mandate she needed to deliver the best possible deal for Britain.

Yes, yes, you are probably thinking, but what has any of that got to do with insurance? Aha! Bankstone News is glad you asked that. Because a hanged Parliament could have all kinds of consequences for important insurance industry stuff.

For example, let’s take Limbo. What’s Limbo?, you may ask, less than fully satisfied that we’re talking about insurance yet. Basically, it’s a place a bit like Purgatory where you go to hang around for a bit until you’re allowed into Heaven.

It’s mostly for people like Old Testament patriarchs and unbaptised infants, but, according to influential legal publication the Lav Gazette, it could also be where reforms to the criminal justice system are headed for the foreseeable future.

The drubbing poor old Theresa Me Me Me took last week means, the Lav Gaz reckons, that there is now precisely zero chance of anything remotely controversial finding its way into the Queen’s Peach, due on 19 June.

That, of course, would include the so-called Prisons and Corpse Bill, which incorporates the vital second phase of the much-delayed War on Whiplash.

So, quite frankly, it’s anyone’s guess whether and when effective steps will ultimately be taken to make it economically unfeasible and/or actually illegal to purse the type of frivolous claims for relatively moderate personal injury that are forcing motor insurers to increase premiums for decent law-abiding motorists up and down the land.

But it could have been worse. If that nasty little oik Jeremy Corbyn ever gets his evil redistributive fingers on the levers of power, there’s no knowing what harm he might do. For instance, he could limit what insurers are allowed to charge for certain types of insurance. Or he might compromise insurers’ ability to recoup losses made in business acquisition from old folks and other serial non-switchers.

Worse yet, he could queer the pitch for comparison sites by renationalising energy firms. This would leave the likes of Compare the Supermeerkat with b*gger all to profitably compare.

Plus, he’d probably be a sucker for all that nonsense about how everyone should have access to some kind of magic justice tree.

He might even try to constrain insurance bosses’ ability to earn a decent crust by limiting their earnings to some measly multiple of their workers’ average wage.

Thank God, we’re not there yet. But if things go on the way they’re going now, the necessity of some kind of internal military action cannot be completely ruled out.


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