Grecian2K
Very well known Exeweb poster
Same with my old company too Olds.
Even the mandatory Public Liability Insurance (demanded to almost stratospheric levels of cover by most of our contracts) was very, very rarely claimed upon. For most of the (many) small claims received by firms such as ours in the Highways industry even those that were judged incontestable (a surprisingly small number actually, as we had a legal department with a very keen nose for - and robust attitude against - the many "try-ons") were generally paid "out of revenue". An approach which, actually, was a jolly good incentive for all of us on the ground to take proper care as any payouts reflected directly on the performance of our own operations rather than being just lost in the archives of some distant insurer.
PS: Also, as you have hinted, the No Claims Discount of such a policy upon premiums was probably humongous!!
Even the mandatory Public Liability Insurance (demanded to almost stratospheric levels of cover by most of our contracts) was very, very rarely claimed upon. For most of the (many) small claims received by firms such as ours in the Highways industry even those that were judged incontestable (a surprisingly small number actually, as we had a legal department with a very keen nose for - and robust attitude against - the many "try-ons") were generally paid "out of revenue". An approach which, actually, was a jolly good incentive for all of us on the ground to take proper care as any payouts reflected directly on the performance of our own operations rather than being just lost in the archives of some distant insurer.
PS: Also, as you have hinted, the No Claims Discount of such a policy upon premiums was probably humongous!!