Insurance Premium Hike.

JohnnyBoxer · Jun 7, 2018

Wapping said:
They can also raise fresh capital or adjust the premiums from other lines of business to subsidise their Motor portfolio.

Or they can simply stop insuring certain lines of business or charge more for it.

It is obvious that Bike insurance isn't the flavour of the month at present and loss ratio's are increasing - so premium hike are reality

Possibly down to high theft ratios, certainly of GS and other Adv bikes

So it has been expected for a while, can't see why people are moaning really - it wasn't as if you couldn't forsee the train down the tracks :augie

Deleted account 181015001 · Jun 7, 2018

My insurance is not due until the 1st August. After reading this thread I have just got a quote to start next week the price is within a couple of quid of last year. Not all insurance is going up
it maybe just the risk on some bikes and areas that is effected.

Wapping · Jun 7, 2018

No shit, Sherlock.

Tractors are go · Jun 7, 2018

Wapping said:
No shit, Sherlock.

Bears spotted in woods, shock horror headline news.

Sent from my SM-N910F using Tapatalk

stolzy · Jun 7, 2018

Tractors are go said:
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 ?

PR, loss leading, marketing. Its certainly not trading whilst insolvent.

If, the insurance companies are operating at a loss then those massive pay increases/bonuses to senior management and the dividend increases to shareholders are wholly inappropriate.

Which, in a free market, is entirely their business. You have the freedom to choose whichever supplier you wish.

Tractors are go · Jun 7, 2018

Wapping said:
Insurers can release premium (cash) reserves from past years in order to close gaps in their loss ratios. Obviously, they can’t do that forever.

They can also buy their own insurance (called, reinsurance, which is what I pretend to do all day) that can protect them from an as yet unknown future further deterioration in their loss results over say a several year spread.

They can also raise fresh capital or adjust the premiums from other lines of business to subsidise their Motor portfolio.

Or they can simply stop insuring certain lines of business or charge more for it. Or, as sometimes happens, they can go bust.

Insurer solvency ratios / profit and loss accounts and balance sheets are to some degree or another complex; made more so now by onerous Solvency II requirements.

https://en.m.wikipedia.org/wiki/Solvency_II_Directive_2009

Thank you for this interesting information, hopefully a better understanding now exists.

It's a shame that some flounce off, as there are lots of people here with knowledge and experience which can possibly benefit and expand understanding.

Couple of years ago, it was born agains on their plastic missiles head butting the scenery that was the problem, now that society has embraced our enlightenment, adv bikes are the go to for theft, wonder what the next trend will be, I'm sure you'll read about it in mcn about a year after its finished.

You do realise that every faulty insurance fuck up will be laid at your door now !

Sent from my SM-N910F using Tapatalk

Tractors are go · Jun 7, 2018

stolzy said:
PR, loss leading, marketing. Its certainly not trading whilst insolvent.

Which, in a free market, is entirely their business. You have the freedom to choose whichever supplier you wish.

Both true, but then don't bleat on about how hard done too you are, nor portray the circumstances as fact.

There is a responsibility to be true and accurate, sins of omissions not commissions is not acceptable.

To make the kind of claims that Carillon did, everything is fine, nothing to see move along when they were broke was reprehensible, it is just as bad in reverse.

We're poor, loosing money, could go bust if we don't increase premiums etc, whilst at the same time throwing shitloads of cash to the shareholders.

Can't have your cake and eat it, or is it more eat someone else's cake instead?

Insurance is like women's knickers, rarely come down usually goes up.

Sent from my SM-N910F using Tapatalk

Insurance Premium Hike.

JohnnyBoxer

Well-known member

Deleted account 181015001

Registered user

Wapping

Moderator

Tractors are go

Well-known member

stolzy

Registered user

Tractors are go

Well-known member

Tractors are go

Well-known member

Similar threads