Off Topic Thread too point uh

Stheno · 05-08-2015 05:08PM

Zzippy wrote: »

The government?

Strangely enough it is a public sector organisation :pac:

Wang King · 05-08-2015 05:24PM

Stheno wrote: »

More like "the entire environment is a disorganised mess, cobbled together over a number of years."

Sinn Fein director of elections?

Stheno · 05-08-2015 05:37PM

Wang King wrote: »

Sinn Fein director of elections?

Nah is it not the Labour crowd now with their Ashbourne Annie nonsense?

molloyjh · 05-08-2015 05:42PM

Stheno wrote: »

More like "the entire environment is a disorganised mess, cobbled together over a number of years."

I know the feeling. Kicking off a project myself at the moment to review our areas systems and processes and the whole shebang. It's not a dissimilar siuation at all. The organisation hasn't invested in the area at all since its inception and it shows.

Look at it this way though, the only way is up!

Stheno · 05-08-2015 06:11PM

molloyjh wrote: »

I know the feeling. Kicking off a project myself at the moment to review our areas systems and processes and the whole shebang. It's not a dissimilar siuation at all. The organisation hasn't invested in the area at all since its inception and it shows.

Look at it this way though, the only way is up!

Thankfully, I'm just the consultant telling them this, and recommending what they do. Cleaning up the mess is currently not in my remit

stephen_n · 05-08-2015 06:29PM

Deleted User wrote: »

huh?

http://www.independent.ie/business/personal-finance/car-insurance-premiums-set-for-doubledigit-hike-30914706.html

Without actual facts/figures i.e. raised levels of payments/claims, raised levels of operating costs in this region those are just soundbites. Also they have raised premiums every year through the recession, including when those factors were in reverse, less traffic on the road and less accidents, there were no reductions, that's why it's bull****. This is based on bad investments in property by insurance companies across Europe and the need to claw back profits. An average across the board rise of 20% is impossible to justify, as anything except profiteering in a fictional capitalist culture.

dregin · 05-08-2015 08:34PM

Any of ye on the waiting list for a OnePlus Two? Trying to figure out a purchase strategy since sterling is so expensive so the UK/Parcel Motel route won't be a goer.

awec · 05-08-2015 08:41PM

dregin wrote: »

Any of ye on the waiting list for a OnePlus Two? Trying to figure out a purchase strategy since sterling is so expensive so the UK/Parcel Motel route won't be a goer.

They have an Irish site now don't they?

Stheno · 05-08-2015 08:41PM

Report finished woohoo, it's been hanging around like a bad smell.

Now to hope if they decide to follow the recommendations they do it themselves

dregin · 05-08-2015 08:44PM

awec wrote: »

They have an Irish site now don't they?

Beaut!

05-08-2015 08:48PM

stephen_n wrote: »

Without actual facts/figures i.e. raised levels of payments/claims, raised levels of operating costs in this region those are just soundbites. Also they have raised premiums every year through the recession, including when those factors were in reverse, less traffic on the road and less accidents, there were no reductions, that's why it's bull****. This is based on bad investments in property by insurance companies across Europe and the need to claw back profits. An average across the board rise of 20% is impossible to justify, as anything except profiteering in a fictional capitalist culture.

None of the bolded claims are bull**** reasons. They're all extremely realistic and tangible!

Zzippy · 05-08-2015 09:02PM

Deleted User wrote: »

huh?

http://www.independent.ie/business/personal-finance/car-insurance-premiums-set-for-doubledigit-hike-30914706.html

In fairness, Conor Faughnan is hardly an impartial source. He works for the AA (an insurer) so he has a vested interest in rising premiums (premia?). As Stephen said, if the insurers can't back up those claims with figures, how are we supposed to believe them? If they're so worried about rising claims, why have we not heard them lobbying to give the PIAB more power and less to lawyers, etc.?

05-08-2015 09:07PM

Zzippy wrote: »

In fairness, Conor Faughnan is hardly an impartial source. He works for the AA (an insurer) so he has a vested interest in rising premiums (premia?). As Stephen said, if the insurers can't back up those claims with figures, how are we supposed to believe them? If they're so worried about rising claims, why have we not heard them lobbying to give the PIAB more power and less to lawyers, etc.?

Are the Gardaí not independent?

Statistics published by the gardai show a rise in the number of fatalities last year and more collisions.

The Injuries board are also independent

The Injuries Board has called for a probe into the early settlement of claims by insurers. Head of the board Patricia Byron says undue haste to settle cases may lead to "disproportionate legal fees"

..

Insurers lost a collective €254m in 2013 on motor insurance. Two of the biggest players, RSA and FBD, have issued profits warnings in the past few months, and raised premium rates.

So yes, we have evidence from an interested party, but we also have 2 independent parties backing that up...

stephen_n · 05-08-2015 09:18PM

Deleted User wrote: »

Are the Gardaí not independent?

The Injuries board are also independent

..

So yes, we have evidence from an interested party, but we also have 2 independent parties backing that up...

Did RSA or FBD post loses or profits last year as a whole?

In the period 2007 to 2013, there was a 44% reduction in road fatalities nationally. Yet in the period from 2010-2013 my insurance premium increases by 25%. Despite no aggravating personal circumstances. They use selective figures like politicians to make BS arguments, if it costs them more now it must have been costing them less in that period.

05-08-2015 09:22PM

stephen_n wrote: »

Did RSA or FBD post loses or profits last year as a whole?

Dunno, you tell me.

If it's yes, then can you explain why you think that its fair that other insurance premiums are in effect subsidising the car insurance shortfalls, which both the Gardaí and the Injuries Board have suggested that insurers are facing due to increased litigation costs and injury prevalence?

stephen_n · 05-08-2015 09:49PM

Deleted User wrote: »

Dunno, you tell me.

If it's yes, then can you explain why you think that its fair that other insurance premiums are in effect subsidising the car insurance shortfalls, which both the Gardaí and the Injuries Board have suggested that insurers are facing due to increased litigation costs and injury prevalence?

http://m.independent.ie/business/irish/storm-winds-are-biggest-factor-behind-82pc-drop-in-fbds-profits-30539169.html

My insurance has risen 33% in 5 years and will rise a further 20% this year, this has nothing to do with road traffic deaths, it has to do with mismanagement of claims in 2011-2012, which they under provided for. So if FBD post a profit next year, will the premiums drop? No they won't they will increase by 6-8% as they have done since 2010. It's hard to believe one sided use of figures.

sullivlo · 05-08-2015 10:29PM

So fanta have started to do rock shandy. It's not that tasty.

Stheno · 05-08-2015 10:32PM

stephen_n wrote: »

Did RSA or FBD post loses or profits last year as a whole?

In the period 2007 to 2013, there was a 44% reduction in road fatalities nationally. Yet in the period from 2010-2013 my insurance premium increases by 25%. Despite no aggravating personal circumstances. They use selective figures like politicians to make BS arguments, if it costs them more now it must have been costing them less in that period.

stephen_n wrote: »

http://m.independent.ie/business/irish/storm-winds-are-biggest-factor-behind-82pc-drop-in-fbds-profits-30539169.html

My insurance has risen 33% in 5 years and will rise a further 20% this year, this has nothing to do with road traffic deaths, it has to do with mismanagement of claims in 2011-2012, which they under provided for. So if FBD post a profit next year, will the premiums drop? No they won't they will increase by 6-8% as they have done since 2010. It's hard to believe one sided use of figures.

An 82% drop in profits would put an awful lot of companies out of business!

And it was worse than they expected

http://www.independent.ie/business/irish/125m-wiped-from-value-of-insurer-fbd-as-profit-warning-sees-stock-slide-30737756.html

The insurance group said that a small number of medium-sized injury claims - which typically cost the firm between €200,000 and €1m net of reinsurance - had been "significantly higher" than normally expected. The claims relate to accidents that occurred in 2011 and 2012.

"There is no reason to believe that this development is systemic or that the experience will recur in the future periods," said FBD, adding that it had undertaken a detailed review of the segment.

A spokesman for the company also said no impact is expected on premiums for consumers' home or motor insurance, but that personal liability premiums could rise.

As a result of the higher level of medium-sized claims, FBD said it has taken a €13m charge to ensure its claims reserves continue to be at an adequate level.

The company also took a hit because of an increase in large claim costs due to what it said was a very small number of large accident and liability claims. Those are claims that usually cost the group between €1m and €5m.

Claims from 2011/2012 affected this

stephen_n · 05-08-2015 11:11PM

The 2011-2012 bit is what I referred to.

An 82% drop in PROFITS, does not equate to a loss and underscores the profits they have been making year on year over the last 5 years of increases.

b.gud · 05-08-2015 11:13PM

dregin wrote: »

Any of ye on the waiting list for a OnePlus Two? Trying to figure out a purchase strategy since sterling is so expensive so the UK/Parcel Motel route won't be a goer.

Awec is correct they do ship to Ireland now, but if for some strange reason they aren't shipping the two to Ireland you can go through Germany and use mailboxde.com that's what I used to get my one before they shipped to Ireland. It's much cheaper than the UK route but not as quick.

Stheno · 05-08-2015 11:13PM

stephen_n wrote: »

The 2011-2012 bit is what I referred to.

An 82% drop in PROFITS, does not equate to a loss and underscores the profits they have been making year on year over the last 5 years of increases.

I made my point badly, they actually made a loss in 2014

http://www.fbdgroup.com/media/FBDGroup/files/preliminary-results2014.pdf

junglyparty · 05-08-2015 11:42PM

Southpaw is a serious tear jerker

stephen_n · 06-08-2015 10:42AM

Stheno wrote: »

I made my point badly, they actually made a loss in 2014

http://www.fbdgroup.com/media/FBDGroup/files/preliminary-results2014.pdf

Insurance group FBD reported a decline in operating profits this morning, from €28.1 million in the first half of 2012 to €24.1 million in the first six months of this year.

While the Irish Insurance market declined further in the first half of the year, albeit at a slower pace, FBD increased gross written premiums from €144.7 million to €175.9 million, with key strategic initiatives contributing to the outperformance.

However, the group said profit in the first half of 2013 was lower than the first half of last year primarily due to reduced returns in global investment markets.

Operating profit declined to €24.1 million for the first six months to the end of June, while profit before tax declined from €21.8 million to €19.1 million.

FBD’s financial services operations, which include life, pension and investment broking services, reported an operating profit of €2.2 million in a “tough operating environment”, down from €2.6 million in the first half of 2012.

The insurer generated underwriting profit of €7.7 million in the first half, down from €11.2 million in the first six months of last year.

The board approved an interim dividend payment of 15.75 cent per share, an increase of 29 per cent.

That was their 2013 figures, when premiums were still rising!

07-08-2015 02:15AM

So I remembered my password... oops

b.gud · 07-08-2015 08:57AM

So I went to the gym yesterday during lunch, came back to work and checked my email and Aviva had decided to give away 2 tickets to Scotland Ireland match to the 1st person to reply :mad:

.ak · 07-08-2015 09:19AM

b.gud wrote: »

So I went to the gym yesterday during lunch, came back to work and checked my email and Aviva had decided to give away 2 tickets to Scotland Ireland match to the 1st person to reply :mad:

Yeah but dem gainz tho

Wang King · 07-08-2015 07:29PM

Lads, I only said I didn't want chicken.... She didn't have to chase me with a knife ffs!
#topicalreference

stephen_n · 07-08-2015 08:32PM

Has Dennis O'Brien sued Boards.ie yet?

Wang King · 07-08-2015 08:58PM

stephen_n wrote: »

Has Dennis O'Brien sued Boards.ie yet?

As long as nobody calls him an Irish Jimmy Savile I'd say we're grand

stephen_n · 07-08-2015 09:24PM

Allegedly

Off Topic Thread too point uh

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