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Top Stories

Juggernaut calls for ban on brokers

Gollum Re's chief executive Burl Juggernaut III has hit out at accusations that he had called for all brokers to be prevented from entering the reinsurance market. "I did not say all brokers, I specifically said foreign brokers, or those working for foreign firms. Or those placing business for foreign clients. Or business in which any foreign insurer has a line. Or foreign shareholders. Or staff. Or staff that eat foreign food. Apart from that, fine."

Gollum Re's chief executive Burl Juggernaut III

He went on: "Let's face it. Most of these foreign brokers are dodgy. Come on, have you forgotten the whole contingent commission scandal? Some of these guys are up to their elbows in financial reinsurance, finite risk, sidecars, special purpose vehicles, you name it, they love it. I mean, these guys appear to be more concerned about their clients' interests than in those of traditional reinsurance companies. What's that all about?" more...

Mega Broker employees a chip off the old blockchain

Mega Broker closed down by hacking incident

Mega Broker has set a precedent in the London market by chipping all of its employees in the same way as pet owners can embed a microchip into their pets' fur, Riskbitz can reveal. Part of an efficiency drive dubbed Chips With Everything, the programme is intended to help Mega Broker boost efficiency savings in the face of rising costs and soft market conditions.

Using a syringe, a microchip the size of a grain of rice has been implanted into every employees' hand, with new employees being chipped on their first day in the office. The company has rolled out an office network that allows the chips to function as swipe cards: to open doors, operate printers, or buy coffees in the staff canteen with a wave of their hand.

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