ABSTRACT
The ideal insurance product, from a consumer’s point of view, would be a contract that went something like this: ‘We agree to insure your car (or your house, or your pet, or your company) and compensate you for whatever happens to the car and whatever damage or injury you cause with it to a third party. We will pay the full amount whether it is 20p or £200M (the sky’s the limit, really) under all circumstances, no questions asked’.
