Gordo

Newswires etc all reported that Independent are writing out to policyholders cancelling policies. However policyholders only have to accept this if there is a cancellation clause in their policies - if not then it looks like Independent will have to come to some form of settlement with them to buy out the policies.

Tom - will the motor policies via yourselves have cancellation clauses in them? if they do does that mean we are finally shafted and receive no more assistance from the Policyholders Protection Board (PPB) and have to re-insure in any case?

Does raise some fundamental questions about the effectiveness and ultimate futility of the PPB.

Has anyone got any up to date knowledge on the situation? Who is best to approach re sensible quotes at present for re-insurance?

Gordo

Markus

Gordo,
I believe that Tom and Jeremey (Randall & Pace) are working together to setup a new scooby friendly scheme, so this might be the way to go.

I'm in the same boat here as i'm with (was?) Independant. However, since i heard about this i've been looking around for insurance so it's a case of trying to get the best deal asap, and i'm hoping that T & J's scheme will be up and running soon enough for me to be reinsured by it.

Rum*

Afternoon all,

Just a quick note to try and bring everyone upto speed with regard to the Independent Insurance present position.

We have been advised this afternoon (direct from Price Waterhouse Coopers (PWC)), that they intend writing to all Independent policyholders before this weekend (13/14th July 2001), advising that (where applicable) under the terms of their (/your) policy, cover will be cancelled per the policy conditions...(see wording below)...

[QUOTE]

Page 13 Independent Insurance Private Car Policy Wording.

10. Cancellation

We can cancel the Policy by giving you at least 7 days notice by recorded delivery letter to your last known address. In these circumstances you are entitled to the unused part of your premium.

If the policy is cancelled you must return the Certificate of Motor Insurance to us immediately under the rules of the Road Traffic Acts.

[QUOTE END]

In answer to Gordo's first question...

...Yes, all motor policies via ourselves have the above Cancellation Clause within the policy wording.

With regard to the Policyholders Protection Board (PPB), then yes, once the policy is cancelled they will have no further part to play.

However we have been advised that the PPB will be paying out 90% of all refund premiums (i.e. for the unused part of the policy). At this stage we are still unsure of the timescale for the above - however at least you (and I) will be getting the majority of our unused part of the premium returned

Once we/you receive written notice of Cancellation (as above) we will have to replace cover with an alternate insurer within the timescale. Failure to effect this cover will result in you/your vehicle being UNinsured...which as we all know as some fairly serious legal implications!!!

Just quickly touching on your comments with regard to the effectiveness of the PPB...basically once cover ceases with the Insurer, then there is no longer a role for the PPB to play...so really it shouldn't effect you too much.

Whilst cover remains in place with Independent the PPB guarantee to pay 100% of Third Party (TP) claims, and 90% of Own Damage claims...by having cover cancelled, and 90% of a refund paid, we should financially be in a better postion than if we have to make a claim under the terms and conditions of the policy.

IMHO this is probably (almost) the most favourable outcome to what has been a nightmare for all concerned. At least we all stand to get some form of refund (I have personally paid £1,735.50 of premium to Independent in May 2001...so like most of my customers, was too impressed by the liquidation news).

With regard to upto date rates, both Jeremy and I are working all hours in an attempt to obtain favourable rates and terms from Groupama Insurance (previously GAN). We are both wroking to provide all our customers with quotes as soon as possible...

As I have stated previously, anyone who has concerns or queries regarding the above please do not hesitate to contact me...the office is (and has been for the last 3.5 weeks) being manned from 07.15 to at least 20.00 - 0113 250 0377.

Alternatively I am available at any time on my mobile - 07798 762285 (within reason!! )

I hope this explains a little more of what is going on.

All the best

Tom (aka Rum*)

P.S. Gordo, some of the following sights are offering some good upto the minute news into the Independent situation...

Rum*

Chris,

I have to agree with you...nothing wrong with recovery ligitimate personal injury claims...however the additional fees that are charged (IMHO) have added to the increase in premiums for all of us.

Cheers

Tom

InsBro

Here is the letter from PwC
"THIS LETTER IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
Date as Postmark
Dear Sir/Madam
CANCELLATION OF YOUR INDEPENDENT INSURANCE COMPANY LIMITED POLICY OF INSURANCE
I am writing to you in my capacity as a joint Provisional Liquidator of Independent Insurance Company Limited (the "Insurer"). On 17 June 2001 my partner, Mark Batten, and I were appointed joint Provisional Liquidators of the Insurer by order of the High Court of England and Wales.
According to the Insurer's records you are a holder of a current policy of insurance made with the Insurer (a "Policy") and we are writing to you to set out the arrangements which the Provisional Liquidators have made to effect cancellation of your Policy.
Please note that cancellation of your Policy does not of itself affect your ability to make a claim in relation to any event covered under the Policy which may have occurred before the cancellation of the Policy. Any such claims should be notified to the Insurer for handling in the usual way.
Policy cancellation
The appointment of Provisional Liquidators does not automatically cancel or terminate policies in force at the time of their appointment unless the terms of the policy specifically allow this, which is unusual. Although the Insurer cannot pay any claims in full under policies issued by it or on its behalf, in certain cases claims of policyholders and return of premium payable on cancellation may qualify for protection under the Policyholders Protection Act 1975.
As the Provisional Liquidators stated in their letter to you dated 5 July 2001, POLICYHOLDERS ARE ENCOURAGED TO SEEK ALTERNATIVE INSURANCE COVER IMMEDIATELY.
Arrangements for the cancellation of Policies
(i) Notice of cancellation in accordance with policy terms
Where permitted to do so under the terms and conditions of your Policy, THE INSURER HEREBY GIVES YOU WRITTEN NOTICE OF CANCELLATION OF YOUR POLICY. Your Policy will expire at the end of the relevant period of notice stated in the terms of your Policy document. This period is generally either 7 or 30 days from the date of this letter depending on the type of Policy you have. You are advised to consult the terms of your Policy and ensure that you arrange replacement insurance cover as soon as possible.
In some cases you are required by law to maintain compulsory insurance and it is a criminal offence not to do so. This applies to Employers' Liability Insurance under the Employers' Liability (Compulsory Insurance) Act 1969 and third party risk Motor Insurance under the Road Traffic Acts (and the equivalent provisions in Northern Ireland).
(ii) Mutual cancellation
THE OPTION OF MUTUAL CANCELLATION IS NOT BEING OFFERED TO POLICYHOLDERS WHO ARE INDIVIDUALS OR PARTNERSHIPS CONSISTING SOLELY OF INDIVIDUALS ("PRIVATE POLICYHOLDERS") WHOSE POLICIES ALLOW FOR EARLY CANCELLATION BY THE INSURER. THOSE POLICYHOLDERS MAY BE ELIGIBLE FOR PAYMENT FROM THE POLICYHOLDERS PROTECTION BOARD (THE "PPB") IN RESPECT OF ANY RETURN OF PREMIUM PAYABLE ON CANCELLATION IN ACCORDANCE WITH POLICY TERMS.
IF YOU ARE A PRIVATE POLICYHOLDER AND THE TERMS OF YOUR POLICY ALLOW FOR EARLY CANCELLATION BY THE INSURER YOU DO NOT NEED TO COMPLETE THE FORM OF CANCELLATION, THE INSURER WILL CANCEL YOUR POLICY FOR YOU UNDER SECTION (i) ABOVE. HOWEVER, WHERE REQUIRED BY THE TERMS OF YOUR POLICY, THE ORIGINAL CERTIFICATE OF INSURANCE ISSUED TO YOU MUST BE RETURNED TO THE INSURER TO EFFECT CANCELLATION.
IF THE TERMS OF YOUR POLICY DO NOT ALLOW FOR EARLY CANCELLATION YOU MAY USE THE FORM OF CANCELLATION TO EFFECT EARLY CANCELLATION BY MUTUAL AGREEMENT.
IF IN DOUBT, POLICYHOLDERS SHOULD TAKE THEIR OWN INDEPENDENT ADVICE FROM THEIR BROKER OR LEGAL ADVISER.
Subject to the above, by this letter the Insurer invites all Policyholders to cancel their Policies by mutual agreement. In particular, if you wish to cancel your Policy before the expiry of the notice period prescribed under the Policy and you are not a Private Policyholder or if you wish to cancel your Policy but there is no cancellation provision in the Policy, you may do so by means of mutual agreement with the Insurer.
Should you wish to cancel your Policy by mutual agreement, you must complete the enclosed Form of Cancellation and return it to us in accordance with the instructions set out in that Form and below.
You are advised to read the Form (including the explanatory notes set out therein) very carefully before you begin to fill it in. If you require any further assistance with the completion of the Form, you may telephone the Independent Helpline on 0161 741 1010 and one of the Insurer's staff will be able to assist you.
Once you have returned the Form to the Insurer, you will be notified of the date upon which your Policy has been cancelled and, if applicable, the amount of any return premium due to you that will be admitted as a claim against the Insurer (which the Insurer will be unable to pay in full).
The Form contains an acknowledgement to be given by you in favour of the Insurer and the PPB that you will not seek to make claims under your Policy in respect of any losses or events occurring after the date of cancellation.
The Form enclosed with this letter is required to be completed and returned to "The Policy Cancellation Section, Independent Insurance Company Limited (in Provisional Liquidation) Independent House, Lakeside, Cheadle Royal Business Park, Cheadle, SK8 3FT" by no later than 31 July 2001.
As soon as we receive the Form from you, it will be executed and dated by the Insurer as soon as possible, at which time the cancellation of the Policy will become effective. Policyholders who return the completed Form to the Insurer will be able to indicate a preferred date (not later than 31 July 2001) on which they wish their Policies to be cancelled. This procedure will help policyholders to ensure that insurance cover under their Policies with the Insurer will not cease before they are able to arrange replacement insurance cover with an alternative insurer. It is the intention of the Provisional Liquidators to ensure that the Form is executed and dated by the Insurer on the preferred date. However, this may not be possible for legal or administrative reasons (for example, if the documentation is not properly completed or received on time). Neither the Insurer nor the Provisional Liquidators shall be under any obligation to cause the Insurer to execute any Form returned by you on the date requested, and nothing in the Form or this letter shall be construed in any way as an express or implied representation or warranty to that effect.
Benefits of cancellation
The Provisional Liquidators consider the principal benefits of cancellation to be as follows:
1. If policyholders arrange replacement insurance cover without cancelling their Policies with the Insurer, payment by a new insurer of any future claim under a new policy may be pro-rated between the new insurer and the Insurer, which could result in payment not being made in full. CANCELLATION OF YOUR POLICY WILL HELP TO AVOID THIS PROBLEM.
2. As a result of the cancellation of Policies, the Insurer's exposure to future claims will be reduced, which should assist in managing the overall level of potential return to creditors and policyholders who prove for debts owing to them by the Insurer in any future Scheme of Arrangement or liquidation.
Policies already cancelled
If you have already cancelled your Policy, please confirm to us the date of cancellation and where required by the terms of the Policy also return your certificate of insurance to "The Policy Cancellation Section, Independent Insurance Company Limited (in Provisional Liquidation), Independent House, Lakeside, Cheadle Royal Business Park, Cheadle, SK8 3FT."
Premium refunds
Given its financial position and the appointment of Provisional Liquidators, the Insurer cannot make any payment to you by way of refund of premium for the unexpired period of the term of your Policy. Any amount due to you in that regard will be a claim, which will have to be submitted in any future Scheme of Arrangement or liquidation.
If you are a "private policyholder" within the meaning of the Policyholders Protection Act 1975 (ie an individual or a partnership comprised solely of individuals) and your Policy provides for a return of premium on cancellation, you may qualify for a payment from the PPB at the rate of 90% of any claim for return of premium due to you from the Insurer in accordance with the terms of your cancelled Policy. You should take your own independent advice on this issue.
In order to be eligible for protection from the PPB, where that is available, you must also comply with any requirements under the Policy regarding cancellation. In particular, where required by the terms of the Policy, the original certificate of insurance issued to you must be returned by you to the Insurer before your eligibility for a return of premium can be considered.
If the terms of your Policy provide that you are not entitled to a return of premium where you have made a claim under your Policy, and you have made such a claim, you will not qualify for a return of premium payment either from the Insurer or the PPB.
If you have two or more Policies you are required to complete a Form of Cancellation for each Policy.
THE PROVISIONAL LIQUIDATORS DO NOT AND HAVE NOT ADOPTED ANY CONTRACT OR POLICY MADE BY THE INSURER AND ONLY THE INSURER SHALL REMAIN LIABLE THEREUNDER.
ANY STATEMENT MADE HEREIN AS TO THE POSSIBILTY OF PAYMENT BY THE PPB IS OFFERED FOR GUIDANCE PURPOSES ONLY AND DOES NOT BIND THE PPB. POLICYHOLDERS SHOULD TAKE THEIR OWN INDEPENDENT ADVICE.
Yours faithfully
Dan Schwarzmann
Joint Provisional Liquidator of
Independent Insurance Company Limited
without personal liability
IMPORTANT: The Form of Cancellation is required to be completed and returned to "The Policy Cancellation Section, Independent Insurance Company Limited (in Provisional Liquidation), Independent House, Lakeside, Cheadle Royal Business Park, Cheadle, SK8 3FT" by no later than 31 July 2001 unless otherwise announced in writing by Independent Insurance Company Limited (In Provisional Liquidation).
If you are in any doubt as to any aspect of the Form of Cancellation you should consult with your broker or other professional adviser.
GUIDE TO COMPLETION OF
THE FORM OF CANCELLATION OF YOUR POLICY OF INSURANCE
INDEPENDENT INSURANCE COMPANY LIMITED
(in Provisional Liquidation) (the "Insurer")
WHO SHOULD COMPLETE THE FORM
Individual policyholders and partnerships consisting solely of individuals whose Policies allow for early cancellation by the Insurer and provide for a return of premium on cancellation may in certain circumstances be entitled to payment from the Policyholders Protection Board in respect of return of premium and should NOT complete the Form.
Individual policyholders and partnerships whose Policies do not allow for early cancellation should complete the Form if they wish to cancel their Policies before expiry.
Corporate policyholders are not entitled to payment from the Policyholders Protection Board in respect of return of premium and should therefore complete the Form if they wish to cancel their Policies before expiry.
HOW TO COMPLETE THE FORM
You should complete the Form as follows:
1. You should provide your personal/corporate details by completing the box set out under Section 1 headed Request to Cancel Policy of Insurance.
2. You should provide details of your Policy by completing the box set out under Section 2 headed Policy of Insurance.
3. You should complete Section 8 headed Preferred Date on which Cancellation to become Effective by inserting the date on which you wish your Policy to be cancelled. You should only complete Section 8 if you have a preferred date for cancellation of your Policy. If you have no preferred date you should leave Section 8 blank; the cancellation will then be processed as soon as practicable. DO NOT INSERT A DATE IN SECTION 10.
4. You should complete the Section headed EXECUTION CLAUSE as follows:
If you are a Corporation:
If you are a corporation you should complete Section A only. You should ensure that the Form is signed by a duly authorised director or such other duly authorised officer of the corporation. The signatory should also print his or her name. Where possible, you should also ensure that a witness is present when the duly authorised person signs the Form and your witness should complete the information contained under the heading Witness Details.
If the Policy is in joint names, each joint corporate policyholder should sign the Form.
5. If you are an Individual where the terms of the Policy do not allow cancellation:
If you are an individual you should complete Section B only. You should ensure that you sign with your usual signature on the line above the word Individual. Where possible, you should also ensure that a witness is present when you sign the Form in Section B. Once you have signed Section B, your witness should complete the section immediately following your signature headed Witness Details. Your witness should sign his/her usual signature on line 1 of this section. The information required to be inserted on lines 2, 3 and 4 should also be inserted by your witness in block capitals.
If the Policy is in joint names, each joint policyholder should sign the Form.
6. If you are a Partnership where the terms of the Policy do not allow cancellation:
If you are a partnership, one of the partners should complete Section B only. You should sign with your usual signature on the line above the word Partner. Where possible, your signature should be witnessed as described in note 5 above.
If the Policy is in joint names, each joint policyholder should sign the Form.
7. You should then send the following documents to the Insurer as soon as possible and by no later
than 31 July 2001:
(i) the original of the Form duly completed; and
(ii) the original certificate of insurance, where required by the terms of the Policy; and
(iii) the original Policy or a photocopy (which should include the schedule detailing the specific terms of the Policy), or if unavailable, the originals or a photocopy of your cover note issued either by the Insurer or by your broker for the insurance purchased from the Insurer.
YOU MAY FAX THE FORM (AND POST THE REQUIRED DOCUMENTS) TO THE INSURER ON 0161 741 0001.
FORM OF CANCELLATION OF YOUR POLICY OF INSURANCE
To: The Policy Cancellation Section
Independent Insurance Company Limited
(in Provisional Liquidation)
Independent House Lakeside
Cheadle Royal Business Park
Cheadle
SK8 3FT
Policyholders Protection Board
51 Gresham Street
London
EC2V 7HQ
Dear Sirs
1. Request to Cancel Policy of Insurance
I/We confirm and acknowledge that I/we have read and understand the terms of the cancellation of the Policy of Insurance from you to me/us. My/our client details are as follows:
Please print all details
Full name:
Full address:
Postcode/Place/Country:
Telephone Number:
Fax Number:
2. Policy of Insurance
The details of my/our Policy of Insurance are as follows:
Name andAddress ofPolicyholder: Type of Policy:Period of Cover:Annual Premium:Policy Number:

I/We enclose with this Form each of the documents set out in note 7 of the explanatory notes to this Form.
The effective date of the termination and cancellation of my Policy of Insurance shall be the date which is inserted by the Provisional Liquidators into this Form under the section set out below headed "Effective Date of Termination and Cancellation" (the "Effective Date").
3. Termination, Cancellation and Acknowledgement
I/We irrevocably and unconditionally agree and undertake that, subject as follows with effect from the Effective Date, the Policy of Insurance is terminated and cancelled and all rights and obligations thereunder as between us (apart from in respect of any claim for return of premium or any matter or incident occurring before the Effective Date which may give rise to a claim under the Policy of Insurance) shall be of no further force or effect. I/We note that my/our right (if any) to prove in any Scheme of Arrangement or liquidation of Independent Insurance Company Limited (In Provisional Liquidation) arising in respect of my/our Policy of Insurance for losses occurring prior to the Effective Date are fully preserved and are not prejudiced by my/our signing of this Form.
I/We hereby unconditionally and irrevocably acknowledge and agree that I/we shall not seek or purport to claim against Independent Insurance Company Limited (In Provisional Liquidation) or the Policyholders Protection Board (where relevant) in respect of any matter or incident occurring after the Effective Date. I/We also acknowledge that, where required by law, I/we must obtain alternative insurance cover.
4. Representation and Warranty
[Applicable only if this Form is completed by a corporation] We hereby represent and warrant to you that we have all requisite power and authority to enter into and to perform our obligations under this Form.
5. No Representation by Insurer/Provisional Liquidators
This Form represents the entire understanding between us in relation to the matters dealt with in this Form. I/We acknowledge and agree that I/we have not entered into this Form in reliance upon any representations (whether oral or written) made or alleged to have been made by the Provisional Liquidators or Independent Insurance Company Limited (In Provisional Liquidation) or any of your respective partners, firm, employees, advisers, agents or representatives at any time. I/We also acknowledge that neither the Provisional Liquidators not their employees, firm, partners, agents or advisers have or shall be deemed to have any personal liability in respect of this Form or the Policy of Insurance or any matter related thereto.
6. Further Assurance
I/We unconditionally and irrevocably undertake to you that I/we will take such action and execute such documents and do all such further acts and things as Independent Insurance Company Limited (In Provisional Liquidation) or the Provisional Liquidators may require of me/us in order to give full effect to the terms and conditions of this Form including, but without limitation, ensuring that the terms of this Form are enforceable against me/us.
7. Governing Law
This Form is governed by and shall be interpreted in accordance with the laws of England and Wales and I/we submit to the non-exclusive jurisdiction of the High Court of Justice of England and Wales in respect of the subject matter of this Form and all disputes and other matters relating to it.
8. Preferred Date on which Cancellation to become Effective
NB: You should only complete this section if you have a preferred date for cancellation of your Policy of Insurance. THIS DATE SHOULD NOT BE BEYOND 31 JULY 2001.
I/We request that the Effective Date should be ______________________ 2001.
Neither Independent Insurance Company Limited (In Provisional Liquidation) nor the Provisional Liquidators gives any warranty or representation that the date stated by you above will be treated by Independent Insurance Company Limited (In Provisional Liquidation) or the Provisional Liquidators as the Effective Date. Independent Insurance Company Limited (In Provisional Liquidation) and the Provisional Liquidators reserve the right to insert, as the Effective Date, such other later date as both may, in their absolute discretion, consider appropriate. If no date is inserted, Independent Insurance Company Limited (In Provisional Liquidation) or the Provisional Liquidators will insert such date as they consider in their absolute discretion to be appropriate.
9. Authorisation to Independent Insurance Company Limited (In Provisional Liquidation) or the Provisional Liquidators to Insert Date
I/We hereby expressly and irrevocably authorise Independent Insurance Company Limited (In Provisional Liquidation) or the Provisional Liquidators or any member or employee of their firm or any agent of the Provisional Liquidators duly appointed, to insert the date of this Form into the section below headed "Effective Date of Termination and Cancellation".
10. Effective Date of Termination and Cancellation
This Form shall only take effect as from (and not before) the date inserted in this Form by the Insurer that immediately follows this section:
(THE DATE SHOULD NOT BE COMPLETED BY THE POLICYHOLDER)
Dated the_________day of___________2001
Notification
As soon as reasonably practicable following cancellation, Independent Insurance Company Limited (In Provisional Liquidation) or the Provisional Liquidators shall endeavour to notify you by public announcement (or otherwise) of the Effective Date.
I/WE ACKNOWLEDGE THAT THE PROVISIONAL LIQUIDATORS DO NOT AND HAVE NOT ADOPTED ANY CONTRACT OR POLICY MADE BY INDEPENDENT INSURANCE COMPANY LIMITED (IN PROVISIONAL LIQUIDATION) AND ONLY INDEPENDENT INSURANCE COMPANY LIMITED (IN PROVISIONAL LIQUIDATION) SHALL REMAIN LIABLE THEREUNDER.
EXECUTION CLAUSE
SECTION A [TO BE COMPLETED ONLY BY A POLICYHOLDER WHICH IS A CORPORATION]
SIGNED BY THE POLICYHOLDERBY A DULY AUTHORISED DIRECTOR OR OTHER OFFICER
_________________________Director/Other Officer(Signature) _________________________Director/Other Officer(Print Name)
in the presence of:
Witness Details [Please ensure your witness completes the following section in full]
1. Signature of Witness _________________________(Witness should sign using his/her usual signature)
2. Full Name of Witness _________________________(Please print in capital letters)
3. Occupation of Witness _________________________(Please print in capital letters)
4. Full Address of Witness _________________________(Please print in capital letters)

SECTION B [TO BE COMPLETED ONLY BY A POLICYHOLDER WHO IS AN INDIVIDUAL OR PARTNER]
SIGNED BY THE POLICYHOLDER _________________________Individual/Partner
in the presence of:
Witness Details [Please ensure your witness completes the following section in full]
1. Signature of Witness _________________________(Witness should sign using his/her usual signature)
2. Full Name of Witness _________________________(Please print in capital letters)
3. Occupation of Witness _________________________(Please print in capital letters)
4. Full Address of Witness _________________________(Please print in capital letters)

SIGNED BY OR ON BEHALF OFONE OF THE PROVISIONAL LIQUIDATORSas agent for and on behalf of INDEPENDENT INSURANCECOMPANY LIMITED (IN PROVISIONAL LIQUIDATIONwithout personal liability under powers contained in anOrder of the High Court of Justice dated 17th June 2001in the presence of:
"

Jeremy

Markus

Well, at least I've been looking around for a quote or two.

Not sure where i stand with regard to getting anything back as I'm paying by DD.

Gordo

Thanks guys - Rum especially - looks like there might be light at the end of the tunnel after all.

Does InsBros' reply count as the longest ever?!

Cheers
Gordo

Chris.Palmer

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by Rum*:
<B>
[Snip]
However we have been advised that the PPB will be paying out 90% of all refund premiums (i.e. for the unused part of the policy). At this stage we are still unsure of the timescale for the above - however at least you (and I) will be getting the majority of our unused part of the premium returned
[Snip]
[/quote]

Don't hold your breath for the PPB, I was insured with Drake last year when they went into receivership (May 2000). Filled out all paperwork sent by PPB & I'm still waiting!!

Best advice I can give is that if you paid for your insurance in full by Credit Card then you are insured and can claim back from them.

If the PPB ever coughs up you will have to return this money to your Credit Card Company.

This is what I did, Visa refunded within a month - & I'm still waiting for the PPB (well its only been about 14 months!)

I will always pay my insurance premiums by credit card now.

Within the last 14 months I've heard of THREE tinpot SH1TY little underwriters going bust.

Rum*

Chris,

I have to agree with you...alas, I paid mine cash...cos I'm daft!!!

As far as tin pot companies are concerned....the worrying thing here is, Independent Insurance were a UK PLC, with a Standard & Poors rating of AAA, which puts them on a par with all the other major insurers...

Rum

Chris.Palmer

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by Rum*:
<B>Chris,

[snip]
As far as tin pot companies are concerned....the worrying thing here is, Independent Insurance were a UK PLC, with a Standard & Poors rating of AAA, which puts them on a par with all the other major insurers...

Rum[/quote]

Sorry Rum, for the "tin pot" remark - I was just venting. Drake's weren't tin pot either really.

Whenever I see one of those "Clams Direct" type adverts it makes me mad . I'm sure they're playing a major part of the demise in the insurance world and this is putting up our premiums.

Chris.Palmer

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by polarbearit:
<B>Does the VISA insurance only apply to policies taken out within the past 90 days? This is the period which goods are insured for with them, so are insurance services the same? Does anyone have any experience with this?

Jon[/quote]

You could be right, I was with Drake for 2 weeks before they went into receivership!

polarbearit

Does the VISA insurance only apply to policies taken out within the past 90 days? This is the period which goods are insured for with them, so are insurance services the same? Does anyone have any experience with this?

Jon