On the QT: Freezing pipes (and rates)

After wintering in warmer climes, I came back to a cold and miserable January and found my old boiler had a frozen pipe.

I wasn’t alone, of course. Bravo to Andy Haste of RSA for brashly telling the City, after a horrendous run of burst-pipe claims: “That’s what we are in business for.” Quite.

One assumes this will affect the management bonuses, though, whereas nothing seems to affect the bankers’ bonuses. That said, who designed the RSA reinsurance programme, I wonder?

And so the talk turns to raising household rates, but I bet that insurers won’t dare to broach the subject. Certainly not RSA, following the debacle on motor insurance price comparison techniques. After all, who but insurers would ‘fix’ prices guaranteed to make a £1bn loss for their shareholders!

I’m also pleased to see Igal Mayer back in London, snarling no doubt from Aviva Towers at Cullum and Homer as they walk down Leadenhall Street. I reckon that Igal will put the kybosh on any thoughts of a Towergate entry into Europe, unless of course their friendship with AXA flourishes now that Ms Blanc est arrivée. Zut alors!

Meanwhile, rumours abound regarding who will be the new chairman of Hiscox if Sir Bob hangs up his boots. I think those boots are too big to be filled easily. Robert has been a star for as long as anyone can remember, and I believe he should stay put and continue to give the FSA, ABI and the government an ear bashing. Although, I am available too, of course, if called upon ...

Email me: sid@insurancetimes.co.uk.