Word: premiums
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...called smart buildings have bombed as well. Experts predicted that companies would trip over one another trying to move into offices where all the computer and telephone equipment was prefurnished. They assumed that companies would pay up to a 20% premium to rent space in offices where the temperature, lighting and talking elevators were all smartly computerized. The experts were wrong. Many companies preferred shopping for their own office equipment and opposed paying extra for chatty elevators...
Lloyd's of London has always been synonymous with insurance-underwriting expertise and the sober assessment of risk. When film star Betty Grable sought to insure her famous legs, Lloyd's came up with a policy and calculated the appropriate premium. But disasters have a way of defying the laws of probability. Recent years have witnessed an extraordinary string: the Piper Alpha oil-rig blowout in the North Sea, the explosion of Pan Am Flight 103 over Scotland, the Exxon Valdez oil spill and America's Hurricane Hugo. Last week Lloyd's announced that it would post a $980 million...
Meanwhile, the stampede of account switching has put a premium on the industry's creative talent. Gordon Bowen, a top creative executive at Ogilvy & Mather, hardly raised an eyebrow last week when six dozen roses were delivered to him as he ate breakfast in a Manhattan restaurant. Rival agency McCann-Erickson sent the bouquet as part of its campaign to persuade him to switch shops. As the principal executive on the restless American Express account, Bowen conceivably could leave home with the business. If that were to happen, $300 worth of roses would go down in advertising history...
...idea was to protect the elderly poor from the cost of health insurance by having the government pay the $29.90 monthly Medicare premium for people over 65 whose annual income is less than $6,620. But, according to the 1990 agreement between Congress and the Social Security Administration, in order to obtain the benefit, people had to apply for it. Families USA, an advocacy group for senior citizens, charges that 2.2 million people eligible for the program never made applications because the government didn't tell them about it. The monthly premiums continued to be deducted from their Social Security...
...same time tape recorders were capturing every word of speeches, rapid communication introduced the possibility that a fatal "gaffe" could, in a matter of hours, be disseminated across the entire country. More recently, the 30-second TV commercial placed a high premium on packing as much emotional impact into as few words as possible--something few people are capable of doing extemporaneously...