ScottC Posted January 11, 2013 Share Posted January 11, 2013 Yes, this is how the industry works, same goes for us and other brokers. If a customer is insured with one underwriter, we cannot undercut using the same underwriter.. having said that, it happens, often, some cases go through, some do not. Some people would call that price fixing. Quote Link to comment Share on other sites More sharing options...
Westy Posted January 11, 2013 Share Posted January 11, 2013 Out of interest Ollie, would you guys do an agreed value of £50k on this car: http://www.mkivsupra.net/vbb/showthread.php?283189-R34-with-only-600-miles! Quote Link to comment Share on other sites More sharing options...
JasonR24 Posted January 11, 2013 Share Posted January 11, 2013 Some people would call that price fixing. Hmm I have to agree here and also the fact that surely if it's the same underwriter the quote should be the same! If it's cheaper with the same underwriter they shouldn't be trading Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Some people would call that price fixing. I'm not sure what you mean by price fixing but in this scenario, yes , individual insurers will dictate to their brokers what price they want for a risk. Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Out of interest Ollie, would you guys do an agreed value of £50k on this car: http://www.mkivsupra.net/vbb/showthread.php?283189-R34-with-only-600-miles! It's not a question I can answer I'm afraid as I am not the agreed valuation underwriter. I do have an influence though and my personal thoughts are that this R34 is over priced. Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted January 11, 2013 Author Share Posted January 11, 2013 Hmm I have to agree here and also the fact that surely if it's the same underwriter the quote should be the same! If it's cheaper with the same underwriter they shouldn't be trading Certain brokers are given scope to move on screen rates, some move more than others in a bid to undercut their competitors, underwriters are wise to this and will keep a very close eye, also if the broker is 'too cheap' (selling policies for less than are being paid out through claims) they'll either take away the scope to move on price, take away the facility for that certain vehicle or stop dealing with the broker full stop. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted January 11, 2013 Share Posted January 11, 2013 This thread is ridiculous. People throwing their 2 pence in with sweeping, general and inaccurate statements. Sky do a great job. I didn't take a policy with them this renewal but they came close and the track day cover from CCI clinched the deal. I'm sorry but many of the "average Joes" commenting here have no idea how insurance premiums are calculated. Look at Insurers overall Combined Operating Ratios in the press and then carry on pretending you think they earn a great deal of money. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted January 11, 2013 Share Posted January 11, 2013 (edited) Some people would call that price fixing. Seriously, are you stupid mate? Underwriters quote on the information they are given, whether direct or via a broker. If we received a submission from 3 brokers for a fleet policy requesting the same cover then would you not expect us to quote a single price to all three? Unless there's an exclusive arrangement in place with one broker why wouldn't we, quite simply it's the FAIR and RIGHT thing to do. It is by no means price fixing. Edited January 11, 2013 by Sheefa Edited as I was being a tad irrational (see edit history) Quote Link to comment Share on other sites More sharing options...
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