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Marina Destroyed


YnysMon

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I'd be interested to know wether boats started sinking before or after the pontoons came apart but I'm sure the various insurance companies will pull that bit apart with a fine tooth comb, either way it's not going to be cheap and my sympathies go out to all concerned.

At least no fatalities, boats can be replaced or repaired.

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Sadly they tend to pull these figures always in millions or billions out of fresh air, gone are the days when these vast sums of money have to be earned.

In all honesty I think the final figure will be at the higher level or beyond, looking at all those damaged pontoons and the commercial and private boats strewn all over the marina this is going to take a long time for any insurance company to investigate and make good.

Regards 

Alan

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1 minute ago, ranworthbreeze said:

Sadly they tend to pull these figures always in millions or billions out of fresh air, gone are the days when these vast sums of money have to be earned.

In all honesty I think the final figure will be at the higher level or beyond, looking at all those damaged pontoons and the commercial and private boats strewn all over the marina this is going to take a long time for any insurance company to investigate and make good.

Regards 

Alan

Agreed Alan,

I also think this will probably end up an excuse for the Insurance companies to ramp up the premiums for the area.

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58 minutes ago, Selsie said:

Agreed Alan,

I also think this will probably end up an excuse for the Insurance companies to ramp up the premiums for the area.

For the area??, sadly I fear a blanket increase of premiums as a result.

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Quite correct Peter, especially as the majority of shareholders are Pension Schemes, Unit Trusts and Savings Funds. Or did you perhaps imagine that a significant number of shareholders were individuals?  Whilst that was the case in 1995 (I think) there was some massive crash and most of the "Lloyds names" were bankrupted.   

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6 minutes ago, MauriceMynah said:

Quite correct Peter, especially as the majority of shareholders are Pension Schemes, Unit Trusts and Savings Funds. Or did you perhaps imagine that a significant number of shareholders were individuals?  Whilst that was the case in 1995 (I think) there was some massive crash and most of the "Lloyds names" were bankrupted.   

No, John!

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53 minutes ago, MauriceMynah said:

Yes indeed, that is how insurance works but I doubt any increase will be significant.

I believe the principle is like "spreading jam on a slice of bread"; cover the whole slice and no bite will have much jam on it. 

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