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-   -   UK Insurance post brexit (https://www.biker.ie/forum/showthread.php?t=247450)

aspergillis 3rd February 2019 09:39 PM

UK Insurance post brexit
 
Just renewed my insurance yesterday with mce.
Maybe some of the other insurers are with UK companies?

What happens post brexit if no deal?

oroura25 3rd February 2019 10:54 PM

Re: UK Insurance post brexit
 
I'm with MCE too. I had to shop around when there was talk of MCE pulling out of the market here. Got a nasty shock. Owning and insuring two KTMs in Dublin is not going to be an easy task if they're not offering me a renewal due to Brexit

jic44 3rd February 2019 11:17 PM

Re: UK Insurance post brexit
 
customer will be bent over. Insurance company profits will go up.

me2 3rd February 2019 11:44 PM

[quote=jic44;3563602]customer will be bent over. Insurance company profits will go up.[/quote]
Think a real question might be, will they stay viable with a no deal brexit. If not peops might end up with useless certs and no real insurance coverage. Our larger lout neighbours seem set on brexit and an fu2 approach to the good Friday agreement.

aspergillis 3rd February 2019 11:47 PM

Re: UK Insurance post brexit
 
[quote=me2;3563605]Think a real question might be, will they stay viable with a no deal brexit. If not peops might end up with useless certs and no real insurance coverage. Our larger lout neighbours seem set on brexit and an fu2 approach to the good Friday agreement.[/quote]

This is the point I'm worried about.

me2 4th February 2019 01:35 AM

[quote=aspergillis;3563606]This is the point I'm worried about.[/quote]
Citizens information.ie has a page with the contacts of relevant governing bodies. My first port of call would be to see what your own ins'co. are sayin first. All said though I've an awful feeling the "buyer beware" rule will take the day. Highly doubt ya will get any straight answers in advance.

allsorts&oddjobs 4th February 2019 07:51 AM

Re: UK Insurance post brexit
 
It’s alright the government will pay for everything and add a levy on future insurance to pay for it, sound familiar?

hondablade 4th February 2019 10:59 AM

Re: UK Insurance post brexit
 
Im with MCE too if you are alresdy insured will they have to hold up policy until renewal at least? Pay monthly by direct debit too.

proinnsias 4th February 2019 10:59 AM

Re: UK Insurance post brexit
 
Ultimately, it'll depend on how it pans out

No deal, and hard brexit : uk registered / regulated financial entities will lose their "passporting" rights - meaning they can no longer trade unencumbered in EU markets

They need a regulated EU presence to offer insurance here. Many have chosen Malta or Gibraltar (also hit by brexit!) - so check who the underwriter is, and whether they'll remain licensed in the EU or not.

Ultimately - 50 shopping days left, and no-one has a clue how this will play out - means firms in the finance industries are all planning for the worst - did you ask MCE?

Dominus Obsequious Sororium 4th February 2019 12:18 PM

Re: UK Insurance post brexit
 
I'm with Principal, underwriter is UK-based, they are not accepting new business now (I can't add a bike to my policy), prior to withdrawing from Irish market, Principal haven't flagged a problem, apart from saying that my renewal will be with Axa next time, but post-29/03/19....
That said, smart money is on a request for an extension...who knows wtf will happen.

blk150 4th February 2019 02:14 PM

Re: UK Insurance post brexit
 
They won't be leaving. The powers that be won't allow it. Expect a 2nd vote within the year resulting in a narrow remain margin and years of discontent politically in the UK. All that we are witnessing at present in theatre

Irish Mav 4th February 2019 07:44 PM

Re: UK Insurance post brexit
 
Once you have a contract they have to honor it, if the underwritters are in a 3rd country market its the responsibility of the reinsurer to secure a new underwritter and they cannot pass on the cost. The question is who will pull out after all the contracts end. But if your currently insured that won't change after the 29th of march. The only change is you. Might get a letter with a new cert.

aspergillis 4th February 2019 09:59 PM

Re: UK Insurance post brexit
 
I can remember, in about 2002 or 2003, my bike insurance company (Irish I think) went bankrupt, and no cover was in place. I was younger then and just ignored it:rolleyes2:
Will email mce tomorrow for an answer

cracker boy 4th February 2019 11:54 PM

Re: UK Insurance post brexit
 
I'm with Principal and I think the underwriter is on one of the channel isles (Guernsey I think) wonder what will happen there ????

Brexit is very close to my renewal date.

proinnsias 5th February 2019 11:21 AM

Re: UK Insurance post brexit
 
Principal have announced that they're moving to Axa as their main underwriter as the current one is going to lose passporting rights post-brexit ..

[url]https://www.principalinsurance.ie/blog/principal-partners-axa-ireland/[/url]

Dirtyshirt 5th February 2019 11:29 AM

Re: UK Insurance post brexit
 
[quote=proinnsias;3563710]Principal have announced that they're moving to Axa as their main underwriter as the current one is going to lose passporting rights post-brexit ..

[url]https://www.principalinsurance.ie/blog/principal-partners-axa-ireland/[/url][/quote]

I was about to ask about that as I think the current lot are based in Gibraltar..

cracker boy 5th February 2019 06:22 PM

Re: UK Insurance post brexit
 
[quote=proinnsias;3563710]Principal have announced that they're moving to Axa as their main underwriter as the current one is going to lose passporting rights post-brexit ..

[url]https://www.principalinsurance.ie/blog/principal-partners-axa-ireland/[/url][/quote]

Very interesting to see what affect this will have on the premiums!!

SoulX 5th February 2019 06:26 PM

Re: UK Insurance post brexit
 
[quote=cracker boy;3563751]Very interesting to see what affect this will have on the premiums!![/quote]

I'm sure we all know the effect it'll have :bag:

Dinefred 19th February 2019 10:19 PM

Re: UK Insurance post brexit
 
Im in Uk at the moment. Went to renew blade's insuance yesterday and no deal, MCE have stopped insuring poeple on an EU license.

Taraxius 19th February 2019 10:24 PM

Re: UK Insurance post brexit
 
Will be interesting to see, im with MCE, they renewed me back in November... Have a long way to go, at the time they told me regardless of what brexit happens theyll honor the policy, but time will tell if thats actually true or not


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