MSE News: Compare The Market reviews security following passwords probe
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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?InsideInsurance wrote: »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?
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.0 -
VictimOfImpersonation wrote: »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.
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,youngfellamelad0 -
Do you really think it's James Jones actually posting on mse? :rotfl:
Any Experian posts signed James are definitely me!
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 Standen0 -
MSE (Or the top of the pyramid that control them) need to bring in a "lol" button.
It would be ideal for threads like these0 -
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Ah good afternoon, James!Experian_company_representative wrote: »Any Experian posts signed James are definitely me!
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.0 -
VictimOfImpersonation wrote: »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?
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 limitVictimOfImpersonation wrote: »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.
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.VictimOfImpersonation wrote: »As I don't currently employ a bodyguard, I name names when it suits me, youngfellamelad, not you.
Yes, those that own governments and multitrillion pound corporate empires are really bothered about the posts of someone on a small UK forum0 -
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.InsideInsurance wrote: »Yes, those that own governments and multitrillion pound corporate empires are really bothered about the posts of someone on a small 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.0 -
We use a range of identifiers of which DOB is one. DOBs aren't always accurate. If you [EMAIL="uksocialsupport@experian.com"]get in touch with us[/EMAIL] 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 Standen0 -
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 :dance:Experian_company_representative wrote: »We use a range of identifiers of which DOB is one. DOBs aren't always accurate. If you [EMAIL="uksocialsupport@experian.com"]get in touch with us[/EMAIL] 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
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 :whistle:
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