There is a scam that an insurance brokerage firm pulled on a bunch of clueless politicians and, by extension, 500,000 taxpayers, including me.
I’ve got 90% of it worked out and, if you’re interested, here is the story so far but I can’t pinpoint what ‘run out liability’ means in a group insurance context so I’m turning to you people being as erudite a group, pound for pound, as any blogger is likely to be blessed with. Any ideas?
And while you’re at it, what is a ‘premium lag’? By way of explanation the broker used that as his excuse: