Refused Insurance

[ColinBarber]

9 hours ago, Phooey said:

As they make a big deal about ALL of their calls being recorded for training purposes, they'll find it difficult to change their minds.  If the call suddenly disappears they'll be in trouble.

But they don't state how long they will be kept for. If it was in their interest it could be just a week.

[Phooey]

6 minutes ago, ColinBarber said:

I did a speed awareness course a number of years ago and at the time there was only one insurance group that asked if you had been on a course and penalised you for it. You have to answer truthfully to any question you are asked - but most insurance companies don't ask.

 

The instructor at the time made us aware of this and said just don't use that group of companies (Admiral group) - if anything they should give you a discount as your knowledge and awareness would be much better than someone who hadn't had a refresher since they passed their test.

If only it worked that way Colin.  A few years ago I did IAM advanced driving course and then followed it up with RoSPA and managed a Gold pass.  I told my insurance company and my premiums increased slightly.  The reason they told me was that I was more likely to be out driving now so I was a higher risk!  They are a law unto themselves.

[Phooey]

6 minutes ago, ColinBarber said:

But they don't state how long they will be kept for. If it was in their interest it could be just a week.

I believe they have to be kept for 5 years isn't it?  Or am I totally wrong?  Because they are dealing with financial trading I thought it was a minimum of 5 years!

[ColinBarber]

50 minutes ago, Phooey said:

I believe they have to be kept for 5 years isn't it?  Or am I totally wrong?  Because they are dealing with financial trading I thought it was a minimum of 5 years!

If they have to confirm to that element of MiFID II regulations then yes but I'm not sure if retail motor insurance falls within its reach or not.

[Phooey]

2 minutes ago, ColinBarber said:

If they have to confirm to that element of MiFID II regulations then yes but I'm not sure if retail motor insurance falls within its reach or not.

I thought all businesses that traded and gained financially did.  So Dr reception may not have to but insurance would.  Especially since insurance advice is also legally standing.  Of course, I could be talking out of my arse! lol