Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
Page 3
    • InsideInsurance
    • By InsideInsurance 30th Dec 13, 1:10 PM
    • 22,213 Posts
    • 11,383 Thanks
    InsideInsurance
    You haven't yet become aware of the tiny groups that control some of the world's largest financial services companies ? You think they are part of a "free" market? Yes there is just enough free market type activity to fool most people but if you take a long hard look at who is behind some of the reinsurers it is quite fascinating how quickly you reach the point at the top of the pyramid
    Originally posted by VictimOfImpersonation
    It always amazes me when you challenge someone about these alleged all powerful cabals or people that own everything that they can never actually name any of them themselves but instead just try and be enigmatic or just claim its funny that the person challenging them doesnt actually know it already.

    Why are you bring reinsurance into the matter? Are you implying reinsurers exert pressure on those who are placing business with them? How about those who dont purchase reinsurance? Or those where they cede it to an external and then its ceded back to the original insurer/ reinsurer?
  • VictimOfImpersonation
    It always amazes me when you challenge someone about these alleged all powerful cabals or people that own everything that they can never actually name any of them themselves but instead just try and be enigmatic or just claim its funny that the person challenging them doesnt actually know it already.

    Why are you bring reinsurance into the matter? Are you implying reinsurers exert pressure on those who are placing business with them? How about those who dont purchase reinsurance? Or those where they cede it to an external and then its ceded back to the original insurer/ reinsurer?
    Originally posted by InsideInsurance
    Oh you do know a bit about it then? Can you tell us which insurers do not purchase reinsurance? They must be the really big ugly ones who don't need to. Maybe they just don't pay big claims?

    Your last sentence describes an interesting rinky-dink - is it a form of money-laundering a layperson might wonder? A weaving of a web perhaps? Or a way that money might oh so easily be laundered behind a maze of industry jargon if no-one OutsideInsurance had the first idea where to look.

    As I don't currently employ a bodyguard, I name names when it suits me, youngfellamelad, not you.
    • Daniel54
    • By Daniel54 30th Dec 13, 2:19 PM
    • 653 Posts
    • 794 Thanks
    Daniel54
    Oh you do know a bit about it then? Can you tell us which insurers do not purchase reinsurance? They must be the really big ugly ones who don't need to. Maybe they just don't pay big claims?

    Your last sentence describes an interesting rinky-dink - is it a form of money-laundering a layperson might wonder? A weaving of a web perhaps? Or a way that money might oh so easily be laundered behind a maze of industry jargon if no-one OutsideInsurance had the first idea where to look.

    As I don't currently employ a bodyguard, I name names when it suits me, youngfellamelad, not you.
    Originally posted by VictimOfImpersonation
    There is no point at the top of the pyramid as far as reinsurance is concerned and sources of reinsurance capitital are widely diversified.This is fact.

    An insurance company can certainly choose to keep enough on balance sheet capital to not buy reinsurance.In practice this is rarely efficient and off hand I can think of no household names that do not buy reinsurance to some extent.

    Insurance companies that don't/can't pay big claims tend to go out of business.

    There is no reason as a lay person why you should understand reinsurance contract structures,but that lack of understanding only serves to show how lacking in substance is your wild accusation of money laundering -which happens to be absolutely verboten on all levels.

    You know not wherof you speak,youngfellamelad
  • Experian company representative
    Do you really think it's James Jones actually posting on mse?
    Originally posted by stclair
    Any Experian posts signed James are definitely me!

    James
    Last edited by Experian company representative; 30-12-2013 at 3:00 PM.
    Official Company Representative
    I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"

    Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen
    • dacouch
    • By dacouch 30th Dec 13, 2:48 PM
    • 20,780 Posts
    • 12,871 Thanks
    dacouch
    MSE (Or the top of the pyramid that control them) need to bring in a "lol" button.

    It would be ideal for threads like these
    • sithemadmonkey
    • By sithemadmonkey 30th Dec 13, 3:01 PM
    • 216 Posts
    • 94 Thanks
    sithemadmonkey
    MSE (Or the top of the pyramid that control them) need to bring in a "lol" button.

    It would be ideal for threads like these
    Originally posted by dacouch
    This particular thread is more deserving of a the way it's going...
  • VictimOfImpersonation
    Any Experian posts signed James are definitely me!

    James
    Originally posted by Experian company representative
    Ah good afternoon, James!

    Anything more to say about why you haven't done a database clean up yet?

    How many dob mismatched records have you got?

    I think it is reckless that Experian added that record to my grouped searchable records. And I think you personally are on thin ice by allowing an obvious and general breach under Section 55(1) to persist if you haven't yet caused the general clean up to start.
    • InsideInsurance
    • By InsideInsurance 30th Dec 13, 3:04 PM
    • 22,213 Posts
    • 11,383 Thanks
    InsideInsurance
    Oh you do know a bit about it then? Can you tell us which insurers do not purchase reinsurance? They must be the really big ugly ones who don't need to. Maybe they just don't pay big claims?
    Originally posted by VictimOfImpersonation
    Insurers will have different strategies for different lines of business in connection with reinsurance. No one is ever going to write UK Personal Motor without reinsurance due to the compulsory uncapped limit on Bodily Injury. Look at any other line of business and you will find companies that are write reasonable enough limits. My prior client wrote primary and excess environmental policies with about $5b exposure and maximum limit of $65m on UK paper which had no reinsurance in place but all had an aggregate limit

    Your last sentence describes an interesting rinky-dink - is it a form of money-laundering a layperson might wonder? A weaving of a web perhaps? Or a way that money might oh so easily be laundered behind a maze of industry jargon if no-one OutsideInsurance had the first idea where to look.
    Originally posted by VictimOfImpersonation
    No, it is often a way for large corporations to buy the expertise/ licenses of insurers and gain access to the reinsurance market via their captive. Alternatively it can be done to deal with certain countries rules on whos allowed to be an insurer/ reinsurer, where capital is held etc.

    If you want to look at legalised money laundering in the insurance industry look into Risk Finance. I've been working in insurance for far too long and still looked blank after 20 minutes of one of my prior clients underwriters trying to explain it to me - he summed it up as legalised money laundering.

    As I don't currently employ a bodyguard, I name names when it suits me, youngfellamelad, not you.
    Originally posted by VictimOfImpersonation
    Yes, those that own governments and multitrillion pound corporate empires are really bothered about the posts of someone on a small UK forum
  • VictimOfImpersonation
    Yes, those that own governments and multitrillion pound corporate empires are really bothered about the posts of someone on a small UK forum
    Originally posted by InsideInsurance
    I guess it depends what is said and how much damage it could do if it continues to be said on a large UK forum.

    Meantime I guess I am content that the real James Jones of the giant Experian is tweeting about his identity being doubted on MSE! I am sure he hasn't dismissed my beef just yet.
  • Experian company representative
    We use a range of identifiers of which DOB is one. DOBs aren't always accurate. If you get in touch with us we can investigate, explain to you why the account in question was included in the report you've got and, if it shouldn't be there, arrange for it to be quickly removed.

    James
    Official Company Representative
    I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"

    Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen
  • VictimOfImpersonation
    We use a range of identifiers of which DOB is one. DOBs aren't always accurate. If you get in touch with us we can investigate, explain to you why the account in question was included in the report you've got and, if it shouldn't be there, arrange for it to be quickly removed.

    James
    Originally posted by Experian company representative
    Ah so if you have a database full of dob mismatches, it doesn't necessarily mean that they were put there by mischief-makers like Buzby who thinks he gives CRAs the run-a-round, fraudsters or careless data-inputters ? Crikey, maybe I hadn't thought it through. Thanks for that James, suddenly it all becomes clear

    So that means you don't have to care where the data comes from, or even check it, right? That must be where the fuzzy logic clicks in
    1 Negative factors
    • You have recently opened 1 or more new credit accounts.
    » See more

    0 changes since last report
    Last edited by VictimOfImpersonation; 30-12-2013 at 3:42 PM. Reason: No cleanup yet at Experian and what's that new email address you linked to James?
  • Experian company representative
    Not at all. We do care and we carry out rigorous checks on incoming information. Maintaining accurate and up-to-date records is a top priority, as is helping anyone who gets in touch having identified a discrepancy on their report.

    James
    Official Company Representative
    I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"

    Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen
  • VictimOfImpersonation
    Not at all. We do care and we carry out rigorous checks on incoming information.
    Originally posted by Experian company representative
    Clearly you are misinformed.

    You have maintained a large file on me for decades. It contains numerous records all with the same date of birth except the last one. Clearly there is no rigorous check that flagged up the new record for rejection or even for investigation. None whatever.

    Do you doubt that what I have said has happened?

    Explain carefully please.
    • InsideInsurance
    • By InsideInsurance 30th Dec 13, 4:40 PM
    • 22,213 Posts
    • 11,383 Thanks
    InsideInsurance
    I guess it depends what is said and how much damage it could do if it continues to be said on a large UK forum.
    Originally posted by VictimOfImpersonation
    Seeing as we are talking on a global superpower scale I guess you and I have differing views on what "large" is. 10k active viewers, 1m total membership including non-active and duplicates -v- a UK population of 64m doesnt feel particularly big, and compared to the 7b people world wide, seeing as are talking about world wide power, seems fairly minuscule

    Hopefully you've got your tin foil hat on to stop them reading your brainwaves and seeing that you know who they are and so a threat to their complete powerbase
    • sithemadmonkey
    • By sithemadmonkey 30th Dec 13, 9:09 PM
    • 216 Posts
    • 94 Thanks
    sithemadmonkey
    Hopefully you've got your tin foil hat on to stop them reading your brainwaves and seeing that you know who they are and so a threat to their complete powerbase
    Originally posted by InsideInsurance
    Okay, now I agree with dacouch - we definitely need a 'lol' button...

    • chanz4
    • By chanz4 30th Dec 13, 9:22 PM
    • 10,104 Posts
    • 3,007 Thanks
    chanz4
    If you care, why did you not pull virgin media data as you know they had a glitch which oppened 1000's of old accounts to migrate their systems.

    Took you ages to remove myn.
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • VictimOfImpersonation
    If you care, why did you not pull virgin media data as you know they had a glitch which oppened 1000's of old accounts to migrate their systems.

    Took you ages to remove myn.
    Originally posted by chanz4
    This is the crux of the matter. They are open to any old data coming their way from a "usual provider"/partner. They do not care enough to ensure it is accurate before they officialise it. They seem to claim that if it comes from a provider/partner then it always smells of roses and they needn't sniff it.

    That is reckless behaviour for a data controller and it is prosecutable as an offence under DPA 1998 55(1)

    It seems Experian Company Representative would rather link to pictures of himself posted on his Twitter account pointing at this thread than take that finger out and get stuck into cleaning up their databases.
    Last edited by VictimOfImpersonation; 31-12-2013 at 2:32 PM.
  • Experian company representative
    VictimOfImpersonation - we are ready and waiting to review your report and help with any issues if you'll get in touch with details.

    James
    Official Company Representative
    I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"

    Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen
    • dacouch
    • By dacouch 31st Dec 13, 4:42 PM
    • 20,780 Posts
    • 12,871 Thanks
    dacouch
    VictimOfImpersonation - we are ready and waiting to review your report and help with any issues if you'll get in touch with details.

    James
    Originally posted by Experian company representative
    You must be really looking forward to starting 2014 with dealing personally with VoI lol
  • VictimOfImpersonation
    I am sure it could be arranged by appointment, but perhaps we should invite the bank, the ICO and FCA to the meeting, all of whom should have done more on this subject.

    Meantime, I hope Experian Company Representative has already started dealing personally with closing down the obvious security holes that permit bad data input via non-existent input filters, and that he has personally already called for the general date of birth mismatch problem to be investigated thoroughly.

    I don't know whether he would be considered a senior enough officer to be held personally liable for a DPA offence he knew about and did not seek to rectify, but he will have a better idea on that score.

    Thus far, it appears he thinks he only has to make a reasonable effort to rectify one bad record - mine.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,647Posts Today

7,732Users online

Martin's Twitter