March 18, 2018

Who said ‘My word is my bond’? No, it wasn’t Roger Moore. Well, alright, maybe he did call his autobiography that, but who else said it. Or, you know, whose catch-phrase is it?

That’s right (we know because we’ve just looked it up), it was London Stock Exchange. Except London Stock Exchange apparently said ‘Dictum me impactum’ because she’s probably really posh or something.

Basically, what it means is something like: if I tell you I’m going to do something, then you can be pretty darned sure I’ll do it, come hell, high water, or adverse environmental conditions of any other kind, for that matter.

Like London Stock Exchange, insurers have their own posh motto about how you can count on them to do what they say they’re going to do. Or at least the poshest ones who live in boxes in Lloyd of London’s do.

The insurance motto is ‘Uber immer fides’ which translates roughly as ‘Always super faithful’ and, as with that dictum thing above, this basically means you can count on us – our word is as good as a handshake which, in turn, is as good as a contract signed in blood and secured on our mothers’ lives.

The only problem is, not everyone’s convinced they really can count on their insurers. In fact, a lot of people are pretty sure they can’t.

Shocking new research unveiled by a shadowy body known only as The Syndicate (but allegedly something to do with another almost equally shadowy entity known as the ‘Protection’ Review) has found that insurers are the least trusted companies in Great UK today.

Bizarrely, people trust bankers, shops, airlines (even Ryanair), Google and websites like Go Compare the Supermeerkat more than they trust insurers.

Roughly 48% of those questioned by The Syndicate said they didn’t trust their insurers to pay a claim, while 53% said they’d rather keep their money under their mattresses than entrust it to an insurer on the off chance they might someday get some back.

The good news, is that The Syndicate is mostly only interested in life insurers and others firms involved in the so-called protection racket.

It’s entirely possible that if they’d asked people about their motor insurers, they would have got a very different response – one of total and implicit trust, in all likelihood.

But I’ll bet we had you worried for a moment there, didn’t we!


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