While Monte Carlo is viewed by most as a sparkling Shangri-La, its polish seems to be tarnishing for some Reinsurance Rendez-Vous attendeesincluding those who provide some pretty hefty upkeep to the principality of Monaco, reports NU's Caroline McDonald.

On the scene in Monte Carlo, Caroline filed the following musings for this blog:

One London executive, whose company does heavy entertaining during the Rendez-Vous, expressed frustration about exorbitantly steep costs and lousy service.

Theyre going to kill the goose that laid the golden egg, he remarked, shaking his head.

He also noted that Monacos Prince Albert recently stated that the Rendez-Vous now draws more revenue for the country than does the legendary Grand Prix auto racea whopping 60 percent more, in fact.

This is surprising, given that the Grand Prix race depicted in cinema classics is a worldwide phenomenon. Indeed, tourist shops are full of black golf shirts, ashtrays (there is a lot of smoking going on over here), and shot glasses, all bearing the famous crossed-flags Grand Prix crest.

I have to admit, I have spoken to others who are also frustrated trying to do business here with slow cab service, iffy cell phone connections and faltering Internet access. My own hotel has Wifi in the lobby and Ethernet connections in hotel rooms. I wouldnt mind this at all, but every time I attempt to send an e-mail or open a Web site I lose the connection, which means the e-mail hasnt gone through and I have to try sending it again and again.

As for the cabs, just today I had an appointment in Monte Carlo, the casino area of Monaco. (I stay in another part of Monaco about 15 minutes away from the action by car.) Ironically, like Bermuda, Monaco is a long strip of a country with a few narrow roads snaking from one end to the other.

Because I was in a hurry, I requested a cab instead of taking the bus as I normally would. I waited and waited for the cab to arrive. Finally I asked where the cab was coming from and was told matter-of-factly that its starting point was Casino Square! Evidently all cabs wait there to be summoned, rather than spreading out to cover the myriad hotels where Rendez Vous guests stay.

So, while the country is seductively beautiful and a fun place to visit, most of those attending the Rendez-Vous are here for one thingto make deals–meeting with reinsurers, brokers, modelers, ratings agencies and/or actuaries. And as the saying goes, time is moneyespecially in Monaco!

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McDonald's Musings From Monte Carlo

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