I hope the Audi can tell if you drive off with a door open
https://metro.co.uk/2021/08/18/londo...door-15113235/
https://metro.co.uk/2021/08/18/londo...door-15113235/
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Trivia: London buses are not insured.Originally posted by ladymuck View Post"A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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FTFY - they buy Third party insuranceOriginally posted by Paddy View Post
https://content.tfl.gov.uk/fc-201703...ce-renewal.pdfAlways forgive your enemies; nothing annoys them so much.Comment
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",... in addition to self-insuring". With buses. TFL hold a bond for a large sum to cover accidents, in other words, they insure themselves.Originally posted by vetran View Post"A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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So they are insured then?Originally posted by Paddy View Post
However AIUI in this case the self insurance is for TFL's risk, if their bus driver hits a traffic light and runs over a pedestrian the Third party insurance may pay for the cost of replacing the traffic light and the Pedestrian' s injuries. TFL pay for repairing the bus. The risk on a bond is unlimited so killing a few pedestrians (a common occurrence) would run through £500,000 rather quickly.
https://www.fleetnews.co.uk/fleet-ma...ncing-the-risk
oh look an expert..
The term ‘self-insurance’ can often be misunderstood and mistaken for the scheme which involves placing a £500,000 bond with the Government (see panel, page 30).
Instead, self-insurance can also mean taking out a third-party insurance policy so the fleet takes the risk of any collision damage to its own vehicles.
“Virtually no business on the planet actually completely self-insures – the risks of having to pay a multi-million pound loss are too great for almost any commercial enterprise to bear,” says Peter Blanc, group chief executive of insurance broker Aston Scott Group.
“The term ‘self-insurance’ should really be called ‘risk sharing’ as that is a more accurate description of the arrangement,” Blanc adds.Always forgive your enemies; nothing annoys them so much.Comment
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I would have thought the operating company rather than TfL should carry the insurance?Comment
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Possibly it can be an umbrella if the vehicles are rented/sponsored.Originally posted by ladymuck View PostAlways forgive your enemies; nothing annoys them so much.Comment
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