Miscellaneous News

Chevalier

Chevalier

Major
Registered Member
plawolf said:
Llyods and other western insurers have basically already slit their own throats by ripping up valid and fully paid for insurance policies specifically covering war risk because a war actually happened. What’s the point in paying all that money for insurance just so the insurance companies can unilaterally cancel policies when the very thing you buy insurance to cover happens?

This actually presents China with a great opportunity to fundamentally reset the global maritime insurance industry if it’s insurers have the balls and funds to capitalise on this massive crisis of faith western insurance institutions have created over their products and the way they run the market.
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Hong Kong is the ideal place for Chinese insurers to take big bites out of London and western insurers. It’s right in the finance capital, and there’s plenty of assets and investment funds to act as security for insurers. This provides a “for profit” insurance model as opposed to the state backed insurers and mutual funds that peovide alternatives for insurers.
 
S

supersnoop

Colonel
Registered Member
FriedButter said:
You can even bet on the prices of Rolex watches and when new watches are released lmao.

Definitely not ripe for insider trading.

https://twitter.com/i/web/status/2028839441385603293
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This is a new level of the desperate gambling economy…

I had to reread the tweet thinking “movement” had something to do with ebauche, but no.

Betting on price changes of watches the majority of the users probably can’t afford?

New phrases like “K-shaped” economy being coined and no one seems to be concerned that this is the level of “innovation” in the country?
 
D

dingyibvs

Senior Member
plawolf said:
Llyods and other western insurers have basically already slit their own throats by ripping up valid and fully paid for insurance policies specifically covering war risk because a war actually happened. What’s the point in paying all that money for insurance just so the insurance companies can unilaterally cancel policies when the very thing you buy insurance to cover happens?

This actually presents China with a great opportunity to fundamentally reset the global maritime insurance industry if it’s insurers have the balls and funds to capitalise on this massive crisis of faith western insurance institutions have created over their products and the way they run the market.
Click to expand...
I don't think that's exactly what LLoyd's did. I think they basically just said don't go through the straits right now or we won't insure you again. They only cancelled the policies of ships that aren't already in the area, which is legally allowed. Still a pretty blatant leveraging of their monopoly power, but they didn't renege on their contracts.
 
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