Penny Black's insurance week

Within hours of issuing a press release, said intermediary was asked to withdraw it from circulation. Is Boris concerned that, by publicising the fact such an insurance policy exists, people will start throwing themselves under the bikes and claiming compensation?

Elsewhere, dress-down Friday took on a whole new meaning at Ipswich broker Ryan Insurance, which is celebrating its 35th year in business. As part of the celebrations, staff were invited to come to work in 1970s clothing, and bring memorabilia with them. They were served 1970s food and played games of 'guess who' using photographs from the decade. However, Penny doubts whether it extended the theme to 1970s pricing for all risks, given the escalation in pricing. Associate director John Girling said: "I remember that we used to offer a third-party fire & theft policy to a 17-year-old driving a Group 1 vehicle (Mini, Ford Fiesta etc) for £100. Nowadays we would be lucky to achieve a premium for the same risk of under £1000."

Finally, Penny can bring exclusive news that Merlin CEO Richard Webster has decided to attend this year's Chartered Institute of Loss Adjusters lunch in October. His firm is taking two tables. This may come as a surprise, given that in February he had decided not to attend such events as, when he did, it was like "being at a distant relative's wedding". This comment apparently led to one adjusting boss to jokily sign off on an e-mail as a being from a "distant relation", although rather than getting his flak jacket dry-cleaned for the event Mr Webster assures Penny he is looking forward to it.

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