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Thursday, 08 November 2007

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What I want to find is a way of taking out insurance against my occupational pension fund going pop.

Hmmmn! Tricky one, that. Mind you, it's possible to insure anything at Lloyds and the price you pay will tell you the risk level. I remember years ago a very shrewd old boy I knew who was chairman of a company that did an enormous amount of sub-contract work for the old (and at the time, venerable and ultra respectable) Rolls Royce. Realising that on any given month they owed him an enormous amount of money he decided to insure the debt and was shocked at the premium required which was way over normal rates. He ordered his MD to insure the whole debt immediately, and about nine months later they went broke. Obviously these city boys (and girls) have their sources!

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