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Thursday, 26 February 2009

Don’t just worry about the banks: watch the insurance firms

My friend Michael Rhodes just pointed out that a piece in Management Today suggests the reason for the blatant greed and lack of apology from the procession of bank bosses questioned by parliament. It sems that, like Stalin and Hitler, they may be a bunch of psychopaths - http://www.managementtoday.co.uk/newsalerts/article/883246/mtsweek/were-big-banks-run-psychopaths/?DCMP=EMC-Daily%20News

But do you recall that the first firm to crash was AIG, the insurance giant? This occurred to me a couple of weeks back when saw a flood of posters all over the place featuring Iggy Pop – or Druggy Pop as I have always thought of him – selling Swift Cover insurance.

It seems this brilliant “concept” is costing £25 million. So I asked myself a few questions.

1. Is Iggy – an American musician with an appeal as limited as his talent - a credible adviser on insurance in Britain

2. How much testing did they do before rolling out the campaign? Or did they just say, "Screw it, let's just piss away the money"?

3. Do they insure musicians? (I have a couple in my family and they always find it hard to get insured)

I bet the answers to 1 and 2 are “no" and ”testing? What's that?" And Michael sent me a New Musical Express piece giving the answer to 3 - see http://www.nme.com/news/iggy-pop/42968. Check out the moronic commercial.


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