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Thread: O/T Ticket Sales rip-off.

  1. #11
    Join Date
    Jun 2016
    Posts
    12,924
    Quote Originally Posted by Ramshank72 View Post
    Can we all have a whip round for this £2.40?
    Lol...don’t underplay it Ramshank...it was £4.80! Seriously though...£2.40 x 9000 or so is a lot of money to hold onto for no good reason.

    I’m obviously in the wrong business.
    Last edited by ramAnag; 22-11-2021 at 06:32 PM.

  2. #12
    Join Date
    May 2018
    Posts
    6,481
    You obviously don't understand the concept of time on risk premium rA

    Lets try again:

    On day 1 you buy a ticket for an event that will take place on day 120

    On day 75 the event is cancelled

    so for 75 days underwriters have been fully on risk for the eventuality that you will demonstrate that you cannot go to the event and make a claim

    During these 75 days you have the opportunity to make a claim, but you didnt. But hadyou done so, underwriters would, assume your claim was valid, stumped up,

    the fact that the event was cancelled is largely irrelevant up to the point of the cancellation.

    Arguably you could ask for a time on risk pro rata return of premium for the 45 days off risk between days 76 nd 120, but there will be minimum premium clauses and/or cancellation administration fees involved then.

    So I think you were in the right business after all........45 years working in insurance has not gone to waste!

  3. #13
    Join Date
    Jun 2016
    Posts
    12,924
    Quote Originally Posted by Geoff Parkstone View Post
    You obviously don't understand the concept of time on risk premium rA
    Well of course I don’t. You can’t be surprised by that.

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