Uninsured Hatton Garden Thing

[joggerjayne]

http://www.bbc.co.uk/news/uk-england-london-32619883

Jewellery owners who had not taken out insurance have very little chance of receiving compensation.

Err, yeah ... duuh!

That's how insurance works!

[shoota]

You're a diamond JJ...

[joggerjayne]

WHAM ... shoota, straight in there with a cheesy pun.

Too early to give Best Answer?

Thinks, thinks, oh okay, go on then ...

[joggerjayne]

(I know, not strictly a pun, but you know what I mean)

[wolf63]

It was a brilliantly planned and executed robbery. Nobody was traumatised or hurt. I didn't think that they made criminals like that anymore.

[stuey]

Quite an caper that job was, with many interesting facets to it.

[Ellipsis]

It does make you wonder exactly what service the company with the "safe" deposit boxes was offering.

And whether the police, who did not respond to the security alarm, are in any way culpable ...

[joggerjayne]

Apparently the Police have a specific exemption from liability.

[PankySmooch]

These Bank Holiday robberies are becoming quite popular, heard on the news today that a Bureau De Change was hit last weekend after breaking into the charity shop next door and drilling through the wall

[joggerjayne]

Yeah, it will become a Bank Holiday tradition.

Bank Holiday ...

Spend the day on the beach?

Go to the point-to-point?

Raid a bank?

Decisions, decisions ...

[PankySmooch]

why not do all three?

[shoota]

Lol, thanx JJ.

I think that the safe deposit place had some insurance cover but many depositers invalidated there cover by depositing over the limit.

[PankySmooch]

Back in the 80s there was a raid on the Knightsbridge Safe Deposit Centre where they stole an estimated £60m worth of cash and jewels, the owner was quizzed about security on the place and told the police the only security was a telephone!!!!

[joggerjayne]

Yeah. Try to save on insurance costs by secretly having more at risk than the premiums actually cover, and then finding out you've invalidated the policy.

#thatsalsohowinsuranceworks

[Ellipsis]

> These Bank Holiday robberies are becoming quite popular

"Bank Holiday" = spend your "Holiday" robbing the "Bank"

[Baldric]

Looks like Insurance was down to the individual

///Mr Marchant said for those who were not insured, the chances of recovering their sums were "pretty remote" and their only hope would be if it was found there had been negligence in terms of the security of their items.///

[joggerjayne]

I suspect negligence claims will fail on the "reasonable foreseeability" test.

I don't think anyone could have reasonably foreseen that raid.

That won't stop the lawyers taking money off the victims in order to consider the possibility of a negligence claim.

[jno]

that's how insurance works, but it may be they were more interested in suing the "safety" deposit company. They might reasonably have assumed this company was itself insured, but I presume it wasn't.

Good to know the police can't be sued for not doing their jobs; public service is a wonderful thing.

[PankySmooch]

No more PPI claims cold calls, get ready for the new ones "Have you lost money in a safety deposit box raid and wasn't insured?"

[joggerjayne]

// They might reasonably have assumed this company was itself insured //

If I was letting someone else old after something upon which (to use their description) I depended for my livelihood ...

I might have been tempted to "check" if they were insured, rather than so the ASS out of U and ME thing.

Or, perhaps do something really, really radical, and ... read the Terms of Business?

[jno]

don't know. Maybe they did check. Maybe the company really was insured at one stage but didn't keep up the payments. (You might check when renting a strongbox, but would you do so every year?)