Dispelling myths.
In the first of a regular series looking at the state of the insurance industry, Andrew Homer examines some of the commonly-held myths which prevail within the market.
Urban myths are part and parcel of life. We have heard about the guywho took out fire insurance on cigars and then having smoked them
submitted a claim to his insurers. The story ends with him being sent to
jail for arson.
Though this example is stuff and nonsense, the insurance industry is not
immune to the effect of other commonly-held myths. There are several which
have gone from the myth stage to become ingrained in the psyche of
industry employees, from the boardroom to the high-street broker
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