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Archived stories from 2008

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New Year's resolutions 2007

RISKbitz wishes everyone, even regulators and reinsurance lawyers, a very Happy New Year. And to celebrate the New Year, RISKbitz asked a number of self-regarding industry leaders for their New Year's Resolutions and Predictions. They naturally declined, so instead we asked some other familiar industry personalities:

Sir Nobby gives it some air

Sir Norbert "Nobby" Johnson, chief executive, Mocha Re (speaking from the slopes in Gstaad with a glass of schnapps in hand): Everything's looking splendid and tickety-boo. (Singing) "I see trees of green, red roses too. I see them bloom, for me and you. And I think to myself, what a wonderful world?I see friends shaking hands, saying ?how do you do?' They're really saying ?So that's a $10m limit on CatXL US windstorm. Done deal old chap.' Trebles all round, what?"

Burl Juggernaut III, chief executive, Gollum Re, Bermuda: "I predict the Bermuda market will rename itself ?The London Market' and then relocate to New York. And this year's fashion will see Bermuda shorts half an inch longer and with turn-ups."

Sir Dudley "Dumbo" Duddleston, chief executive, Hoggwartz Global Insurance (speaking from a deserted beach in the Seychelles, with an ice cold Dom Perignon on hand): "Obviously one can't predict the future, except in my case, it's looking pretty good, with a fat pension, golden handshake in place and share options aplenty. As for resolutions, well, I resolve to stop drinking mediocre brandy."

Herbert Geoffrey Bumpstead, senior underwriter, Hapless Insurance: "I thought I might have a go at the old mortgage business in the US. Bit of E&O or D&O perhaps. Looks like jolly good business.

Harvard J Thwakkenbakker IV, senior vice co-principal partner at management consultants V?cU?usity: "2008 is the time to exterminatise the excessive superfluity, and opt for a Caesarian section to birth new ideas. In other words, it's time for a new Corporate belief system. If thought leadership is flatlining, then you need to get the shock pads out and shout "Clear!". But most importantly, we need to grasp the ethical swingometer by the throat, and travelate on the wave of conductivity to risk nirvana."

Simon Molegrip, consulting actuary: "I'm not in the game of making predictions or forecasts, thank you very much."

Ian Luddite, chief executive of Lloyd's Luddite Agency: "I forecast a time when computers become small enough to fit in a Box at Lloyd's, increased use of overhead projectors in presentations, and phones may become cordless. I also hear rumours that Lloyd's is developing a device to move effortlessly from floor to floor, giving someone a ?lift', if you will. I also predict that the issue of viruses being transmitted by telegram will become a major problem this year."

Steve Grabber, broker: "My New Year's Resolution is to give up commissions and replace them with something less addictive - like crack cocaine."


Other news from Jan 2008
 
Travelating the Wave of Insurability
the serious stuff
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