January 20, 2012

Cynical observers – and sadly, yes, they do exist – might have concluded that everyone bar the great man himself might by now have grown tired of listening to Jack Straw banging on about parasites and para-fraudulent practices within motor insurance. Strangely, no.

Indeed some people are so keen to hear more that they are (metaphorically) leaning avidly forward, adopting exaggeratedly enthralled expressions and nodding vigorously as he puts this shady industry to rights.

Concerned lest Straw should run short of ammunition, leading industry journal Insurance Times this week published a devastating statistical exposé of exactly how rubbish the British public really thinks motor insurance is.

Of particular interest to Straw – expect to hear this stat again – was the revelation that 91% of us think motor insurance premiums are too high. “The findings of the recent survey by the Insurance Times,” Straw opined in the style of Bill and Ted, “excellently highlight the public’s anger at the state of the car insurance market.”

With the air of someone congratulating themselves on neatly sidestepping a couple of outrageous fortune’s latest slings and arrows (should that be slingshots and arrows?), Allianz insurance bloke Jon Dye consoled himself with the news that “94% of people blamed fraudsters for the high cost of motor insurance,” neglecting to mention that 85% also blame insurance companies.

Then again, 63% seem to think insurance brokers deserve a share of the blame – ironic really when brokers have no other thought in their heads than to find their clients the best cover at the best price. Perhaps it’s still the case that Joe Public struggles to understand the difference between insurers and brokers.

On which note, it will surely come as welcome news to the broker community that the coalition government is reported to be listening sympathetically to representations from the Plain English Society who argue that terms like Broker and Intermediary are confusing to the public and that legislation should be introduced requiring that these be replaced with the less ambiguous Anglo-Saxon word Middleman.

Just kidding!


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