Stevie13000
Well-Known Member
So it’s an assumption as opposed to fact .No but I presume it’ll be based on last seasons figures?
So it’s an assumption as opposed to fact .No but I presume it’ll be based on last seasons figures?
It shows beyond doubt that our insurers have agreed it’s a covered risk.
So, the only matter still to be decided is the full extent of the claim and cover.
Liability has already been accepted by the insurers if they’ve paid out an initial amount.
I wouldn’t be surprised if we do have coverage around this level and the cost probably won’t be as much as you think vs not having it. Insurers probably viewed this scenario of being 1 in 10,000 for example, therefore having minimum impact on the policy cost.I'd be flabbergasted if we had a policy with a coverage of £10m or anything near it. If we do I'd like to know the premium we pay.
Don't think the crash barriers took out this insurance.
Be great for us to cash in on this.
Maybe mate and maybe not. Unless the court have ruled otherwise it applies to only certain policies that had taken an extension of cover for pandemics .Golf clubs and other sporting clubs would also have this insurance cover.
Where are the East End financial experts when we need themI'll wait for the West end fi ance experts to break down what this really means before getting excited by it.
This is your opinion, it is not fact and we do not know if they will pay out for Europa league or not. I highly doubt it somehow.
Rangers have a ten million claim in for business interruption of which a million already paid out. The ten million is for the loss of revenue from the Europa league games & group stages. This news means it will be paid out.
Resilience wording with non-damage BI extension I’d guess, a few football clubs have it.
They did say we’d had an initial payout and discussions were ongoing about further payments. I’m inclined to think if those further payments had the potential to reach the figures quoted then we’d have been a lot more upbeat about it. We’ve obviously more to come but speculation on the amount is nothing more than just that - speculation.Surely this would have been mentioned at the AGM ?
Should always proof read before I post hahaWhere are the East End financial experts when we need them
give them time ,the half ten school bus will be along soonWhere are the East End financial experts when we need them
Lots of different policies with different wording but contagious diseases will all be excluded when policies renew.Most of these policies all have disease exclusions as well... i think that was the main exclusion carriers were using on these claims wasn't it?
Surely it would be more likely that Phil will have all the details from one of his sources in SquarePants.Phil will have all the details from one of his sources in the Square Mile.
It's like the collapse of the Soviet Union (on a much smaller scale of course, and people's liberty much more important!) - when borders started to come down with apparent inpunity. Then allowing the analogy to continue, then our 55 will be akin to the downing of the Berlin Wall!FFS This day just keeps getting better & better
LOL
It's like the collapse of the Soviet Union (on a much smaller scale of course, and people's liberty much more important!) - when borders started to come down with apparent inpunity. Then allowing the analogy to continue, then our 55 will be akin to the downing of the Berlin Wall!![]()
Phil will have all the details from one of his sources in the Square Mile.
Not just Phil....the unwashed will be boilingIf this is true and we get £10m Phils head will explode.
Fair play to the board for carrying out the due diligence on this type of situation.
I’m sure certain claims will have a maximum amount per incident.
A £10m limit is very high. The maximum payout on my own business indemnity insurance is £2m.
Mine was 5 million for a one man company oaid £500 a year for it!!I’m sure certain claims will have a maximum amount per incident.
A £10m limit is very high. The maximum payout on my own business indemnity insurance is £2m.
I’m not an expert on such things, but would premiums/maximum payout not be linked to the level of cover you wanted to pay for possibly dependent on the size and turnover of the business concerned?I’m sure certain claims will have a maximum amount per incident.
A £10m limit is very high. The maximum payout on my own business indemnity insurance is £2m.
Just auto renewed at £16m per monthI’m sure I read that Wimbledon had been paying circa £2m per year on that policy for several years. Worked out for them in the end obviously but that’s a chunky premium.
Yes absolutely. My own level of cover is more than enough to cover me and the premium reflects that.I’m not an expert on such things, but would premiums/maximum payout not be linked to the level of cover you wanted to pay for possibly dependent on the size and turnover of the business concerned?
When the Wimbledon story broke it was disclosed their premium was £2m per annum. They'd been paying for decades - but will be thankful in the end.Yes absolutely. My own level of cover is more than enough to cover me and the premium reflects that.
I wonder what the premium would be for a £10m payout or the £110m Wimbledon payout. It must be a six figure premium.
Prepare for your gast to be flabbered !I'd be flabbergasted if we had a policy with a coverage of £10m or anything near it. If we do I'd like to know the premium we pay.
Insurance Times said:Ben Carey-Evans, insurance analyst at GlobalData, said Wimbledon has learned from the SARS outbreak.
“Wimbledon has shown it is one step ahead of most businesses by having insurance in place for current events,” he said. ”It has been paying around £1.5m per year in pandemic insurance since it took notice of the SARS outbreak in 2003.
“It has paid out roughly £25.5m over the 17-year period, and it is set to recover around £114m, making it a very sensible investment.”
According to data from GlobalData’s SportCal team, Wimbledon earns around $160m in media rights, $151m in sponsorship and around $52m in ticket sales annually.
It will save $38.7m on prize money, and more on staff wages, but this still represents a significant loss of income, despite the sizeable insurance pay-out. Insurance represents damage limitation for the competition, and it will find itself in a much stronger position than most other events in the world during this period.
brilliant!!
Rangers have a ten million claim in for business interruption of which a million already paid out. The ten million is for the loss of revenue from the Europa league games & group stages. This news means it will be paid out.