It was the AA that i picked too.............. and of course I have heard of them and they have a name.
Heard of them, I thought you had shares in them
It was the AA that i picked too.............. and of course I have heard of them and they have a name.
Heard of them, I thought you had shares in them
Now do i have to say it
Of course i do
Fuck off
That's why banks now have to pass eu stress testing and insurance companies have had too for years. Running at a loss and the regulator will cease you trading.
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But do these rules apply to the brokers?
But do these rules apply to the brokers?
But do these rules apply to the brokers?
They're covered by bba regs.
The BBA is a banking thing. Nothing to do with insurance brokers.
Is it biba then ?
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The Bike Insurer is the UK’s biggest motorbike insurance comparison site.
We compare the prices from 40 motorbike insurance brokers and give you the best and cheapest prices for your insurance in the UK – and if you find a cheaper online quote anywhere else, we guarantee to beat it.
The Bike Insurer is a trading name of ICE Internet Comparison Experts Limited who are an appointed representative of Vast Visibility Limited who are authorised and regulated by the Financial Conduct Authority under firm reference number 566973
So insurers and brokers are covered by same regulator and rules ?That's an association to do with insurance brokers; they have rules for sure but are arguably pretty toothless. The regulator is the FCA, along with lots of laws etc etc, all of which do have teeth.
It's sometimes a pretty tortuous chain of ownership and / or tricky to work out quite what goes on. For example, let's start with the Bike Insurer, who advertise their services on these pages.
The Bike Insurer is not an insurance company and arguably they are not a broker either or not one in the conventional sense. They are if you like a comparison website or search engine, who might as well be comparing the price of baked beans or bog roll. Here's how they describe themselves:
And then goes on to tell us:
ICE Internet Comparison Experts Limited are a lot more quiet about what they are. But we do know that they are in the Channel Islands. Why might you guess that might be? They are not an insurance company either, nor are they a conventional insurance broker.
https://register.fca.org.uk/ShPo_firmdetailsPage?id=001b000000NMW9YAAX
Here's who / what Vast Visibility are:
https://www.vastvisibility.co.uk
They are not an insurance company, nor are they a conventional insurance broker. There's a bit of a them emerging here, is there not.
So, the Bike Insurer is in Liverpool (as is Vast Visibility) but ICE Internet Comparison Experts Limited are in Jersey, which has all sorts of advantages. In short, it's a hotchpotch of stuff, all driven by computers and - when it comes to actually facing the public in the form of Big Bob Bikermate from Biggleswade - probably staffed by chimps.
So insurers and brokers are covered by same regulator and rules ?
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Only one thing worse than not getting what you want, and that's actually getting what you wanted.That's an association to do with insurance brokers; they have rules for sure but are arguably pretty toothless. The regulator is the FCA, along with lots of laws etc etc, all of which do have teeth. But, understandably, the FCA regulates different facets of the financial services industry differently, one from another.
It's sometimes a pretty tortuous chain of ownership and / or tricky to work out quite what goes on. For example, let's start with the Bike Insurer, who advertise their services on these pages.
The Bike Insurer is not an insurance company; nor are they an insurance broker. They are a comparison website or search engine, who might as well be comparing the price of baked beans or bog roll. Here's how they describe themselves:
And then goes on to tell us:
ICE Internet Comparison Experts Limited are a lot more quiet about what they are. But we do know that they are in the Channel Islands. Why might you guess that might be? They are not an insurance company either, nor are they an insurance broker.
https://register.fca.org.uk/ShPo_firmdetailsPage?id=001b000000NMW9YAAX
Here's who / what Vast Visibility are:
https://www.vastvisibility.co.uk
And this is what they do:
https://www.vastvisibility.co.uk/our-services/
It's full of the latest buzz word jargon, most of which have about as much to do with insurance broking (or insurance, come to that) as the Pope has to do with cabbage farming. They are not an insurance company, nor are they an insurance broker. They provide the technology and computing wizardry widgets to lots of other search engine bods. There's a bit of a theme emerging here, is there not?
So, the Bike Insurer is in Liverpool (as is Vast Visibility) but ICE Internet Comparison Experts Limited are in Jersey, which has all sorts of advantages. In short, it's a hotchpotch of stuff, all driven by computers who - when it comes to actually facing the public in the form of Big Bob Bikermate from Biggleswade - are staffed by call-center chimps. So, next time you or anyone else blames an insurance company (or even an insurance broker) for all your trials and tribulations, you'll know that you are moaning about the wrong people.
To be frank it's a mess. Why, is it so? That's easy to answer:
All because Joe Public demanded that the price of all this shite was driven to point zero and made easier. Price is the ultimate driver in it all, so the people (who used to provide a half decent service) got stripped out of the process, replaced by computers. The same Joe Public then moans like buggery that he gets fuck all service, is talked to by a chimp (even if Joe Public is sometimes not too far up the evolutionary scale himself) and bellyaches when his feck all less 10 premium goes up by 50P or £50. Be careful what you wish for, you sometimes get it.
Quality service costs, and until you need to claim you don't know how good they'll be.
Who is the 'they' in that sentence?
The insurer?
The broker?
The search engine provider?
The loss adjuster?
The repair shop?
As to the cost? Well, you decide just how much you want to pay.
Wait until you get old !Complicated innit? However getting bike insurance this year is proving more expensive and more difficult than ever.
Making a loss is not the same as trading while insolvent (which is illegal in any business)No, they have not, because if they were trading as insolvent then they're in breach of their licence.
Complicated innit? However getting bike insurance this year is proving more expensive and more difficult than ever.
When you portray publicly that your paying out more than you're getting in premiums and suggest or hint very heavily that if you don't increase the premiums, you'll go bust as it can't continue what should that be called ?Making a loss is not the same as trading while insolvent (which is illegal in any business)