Britain’s top companies are secretly taking out so-called “dead peasants’ insurance” in order to benefit from the deaths of their staff.
A Sunday Herald investigation reveals that firms have taken out thousands of policies on staff without their knowledge. The policies’ value runs into
hundreds of millions, and employers are entitled to spend the money as they wish .
An underwriting manager with a leading broker said: "Any firm in the FTSE top 50 takes out this insurance."
There's little more than this in the link, and not much more in the actual paper except various views of the relevant 'that's terrible'
commentators. I think it's still an investigation in progress though. Hopefully there’ll be more soon.
The implications are obvious though; Civil liberties aren't the only thing this is an affront to.
Another reason why I severely dislike Capitalism.
We know employees are to most companies nothing more than cattle, coming in somewhere below the photocopier and coffee machine in terms of importance;
but now, like real cattle, our employers can pad their inflated bonus checks with money gained from our demise. Oh happy day.
I suppose we should be looking on the bright side eh? At least they don't use a bolt gun.
[Edited on 13-10-2003 by kegs]