On Wed, 4 Feb 2004 10:09:54 +0000 (UTC),
Ian G Batten <
[email protected]> wrote:
> In article <
[email protected]>, Just zis Guy, you know? <guy.chapman+usenet-
>
[email protected]> wrote:
>> On Mon, 02 Feb 2004 18:58:51 +0000, "[Not Responding]" <
[email protected]> wrote:
>>
>> >The difference in cost between 'self-insurance' (ie saving up in anticipation) and real
>> >insurance is, ime, minimal.
>>
>> Hanson used to do that, IIRC. Their vehicles were insured road traffic act only.
>
> That's pretty routine. Larger businesses usually don't even carry property insurance.
>
> It may have changed now, but back in the 80s BT didn't even have RTA insurance, but had posted a
> bond of some sort to enabled them to operate as their own insurer even for personal injury.
>
This is still the case. IIRC you have to post a bond of something like half a million pounds (or
maybe 5 million). Either way it tends to start making sense for companies who have thousands of
vehicles to insure but not for anybody else. (It can also be used to "insure" 17 year olds in
Ferraris
Tim.
--
God said, "div D = rho, div B = 0, curl E = - @B/@t, curl H = J + @D/@t," and there was light.
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