Its now Thursday morning and I just had my two hour overview of the Wordings side of risk policies. Basicly wordings is an extention of a slip that acts as a reference when claims need to be made by the insured/reinsured. BMS has two wordings employees that cover 3 teams. Basicly I spent the morning reviewing a policy renewal wordings contract for the 2008-2009 year and was given a manual to clarify any questions I had. Most interesting thing noted is most property risks exclude terrorism in their policies and to include it usually means a much higher premium.
Anyways Tuesday and Wednesday I spent with the Property and Casualty brokers aka Alex Bridges ('Nash' - total warrior) and Alastiar Rykens (Peaches) aka the guys from the rugby match.
To be honest they have been quite busy this week so I did some minor Excel work for them both and on Wednesday go the chance to shadow Peaches around the market. It was fun to watch him sell a renewal to all the underwriters using pretty much the same pitch and dealing with the same questions being fielded regarding the risk associated with the policy. At the end of the morning Peaches, whom like I said has been rather busy, decided to send me to Lloyds BY MYSELF!!!... to get a slip signed off by an underwriter that had already been placed. So yeah, I was a Lloyds broker for about 15 minutes. Good times.
Not much to say beyond that other than so far i have enjoyed working at BMS and have learned that Insurance is a very work hard play harder industry... most of the brokers tend to be very social and its an environment that to some degree resembles aspects of college life. The market in London is like a campus... very lively when business is in session, lunch hour, and just after work but totally dead on weekends (thats when film companies shoot). Other than that, I on the mission to get into the Swiss Re Tower which is like the coolest looking building in the market and has a restaurant at the top that is kind of open to the market if you know somebody.
After work Tom and I have been watching Euro Cup pretty much everyday since the games start pretty much right after work. Holland played Italy (last cups champions) the other day and totally upset them 3-0. Fun times to say the least. We went out on Tuesday with some of the interns out to an Americana style bar/club called Sports Cafe in Picadilly Circus. It was great to walk in and hang out with college kids from back home... place was kind of like Halftimes back in Deland only 3 times the size. Found a red sox fan and got to chat up the Celtics whom are dominating the NBA finals. Best part of the night tho came when the MC announced a free pitcher to the best dancer on the dance floor so i ran out and went old school and smoked the competion which isnt saying much because there really wasn't any. Tom kept yelling that British can't dance and caused a bit of trouble :)... fun times tho and I think Tom and I will go back there again next week on college night.
Thats about it. Met up with Paul Dire, a friend in reinsurance of Mike Rogers yesterday and well he took out for a few drinks and we had a few laughs.
Its about lunch time so I'm in the mood for curry! Next post will be soon probably about my experience shadowing a Lloyds underwriter this Friday!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment