[AyrshireColin]

Originally Posted by Sullym6

Sounds like the insurance is now reviewing the decision and have asked for v5, mot etc which is more complicated as it was in the car ��
Told him to get in touch with dvla ASAP and inform them car and v5 stolen.
Didn't want to give him a hard time but sounds like he has been careless

V5 was in the car?!? So car thief could fill out and claim they had bought the car....now I'm not the most security conscious admittedly but is this not right up there with keeping a pin number slip and bank card together.

[Abzynthe]

Originally Posted by xenon

So in answer to your original question: "Any insurance experts on?" the answer appears to be "Yes, fecking loads of 'em".

I work in Insurance, and I'm no expert

[doncarlyon]

V5 doesn't prove ownership so no issue with that.

Leaving it in the car is a bit daft though.

You live and learn... hopefully.

[doncarlyon]

Originally Posted by Abzynthe

I work in Insurance, and I'm no expert

I've been in and around the insurance industry for about 18years now

[Abzynthe]

Originally Posted by doncarlyon

I've been in and around the insurance industry for about 18years now

It's been just over 10 for me.

[isleaiw1]

Originally Posted by Abzynthe

I work in Insurance, and I'm no expert

I find most that I deal with are really crap at insurance but really good at lunches (I look after about £2m of insurance spend....so get lots of lunches normally!)

I have lots of reasons to like our brokers currently though.....

[Abzynthe]

Originally Posted by isleaiw1

I find most that I deal with are really crap at insurance but really good at lunches (I look after about £2m of insurance spend....so get lots of lunches normally!)

I have lots of reasons to like our brokers currently though.....

Haha, yeah lots of lunches, and team meetings. Well, not so many lately though.

I'm part of a program that saves the company around £20m a year by identifying where we have paid out where we shouldn't have. Not a very popular line of work in the eyes of the public i think haha. We do identify when we should have paid out though aswell.

[isleaiw1]

Originally Posted by Abzynthe

Haha, yeah lots of lunches, and team meetings. Well, not so many lately though.

I'm part of a program that saves the company around £20m a year by identifying where we have paid out where we shouldn't have. Not a very popular line of work in the eyes of the public i think haha. We do identify when we should have paid out though aswell.

Covid will keep you busy for years! We had an interim payment and then cleared everything with loss adjusters for another sizeable payment before the panel of insurers decided they wanted to question the cover for events post our insured period (insurance year to 31/3) as they claim there are multiple triggers and only one fell within the insurance year. Given we lost over our sub limit on that one trigger its a weird argument, but it did inspire the brokers to go for two triggers insurance renewal so lets see how that goes!

[Abzynthe]

Originally Posted by isleaiw1

Covid will keep you busy for years! We had an interim payment and then cleared everything with loss adjusters for another sizeable payment before the panel of insurers decided they wanted to question the cover for events post our insured period (insurance year to 31/3) as they claim there are multiple triggers and only one fell within the insurance year. Given we lost over our sub limit on that one trigger its a weird argument, but it did inspire the brokers to go for two triggers insurance renewal so lets see how that goes!

Business Interruption is the bane of my life at the moment. I have to compile data for these claims for other people to make decisions.
I know there was a discussion about triggers recently, but I don't know the ins and outs of it.

[isleaiw1]

Originally Posted by Abzynthe

Business Interruption is the bane of my life at the moment. I have to compile data for these claims for other people to make decisions.
I know there was a discussion about triggers recently, but I don't know the ins and outs of it.

Triggers - an attempt to multiply your sublimit to apply to each and every claim not all as one claim, as I understand it. Whether that be lockdowns 1, 2 and 3, or multiple locations each with their own sublimit, its an area that is very important to the insurers - and pretty important to the claimant. I think our losses are about 6 x our sub limit so any ability to replicate would be wonderful (but unexpected as we think the insurers will throw loads at fighting it and frankly having lost LOTS that's not something we can afford. Funny that...)

[Abzynthe]

Originally Posted by isleaiw1

Triggers - an attempt to multiply your sublimit to apply to each and every claim not all as one claim, as I understand it. Whether that be lockdowns 1, 2 and 3, or multiple locations each with their own sublimit, its an area that is very important to the insurers - and pretty important to the claimant. I think our losses are about 6 x our sub limit so any ability to replicate would be wonderful (but unexpected as we think the insurers will throw loads at fighting it and frankly having lost LOTS that's not something we can afford. Funny that...)

Oh, ok. I think there was also something around the sublimit is the sublimit no matter how many triggers, so once its reached, thats it.

I'm not sure what schemes that applies to, but I had to compile claims data for 136 different schemes.
Theres also discussions around whether there has been COVID confirmed on the premises or within 25 miles etc.

[isleaiw1]

Originally Posted by Abzynthe

Oh, ok. I think there was also something around the sublimit is the sublimit no matter how many triggers, so once its reached, thats it.

I'm not sure what schemes that applies to, but I had to compile claims data for 136 different schemes.
Theres also discussions around whether there has been COVID confirmed on the premises or within 25 miles etc.

That is indeed the argument. Marsh (we are on Marsh resilience wording...) are suggesting otherwise and for now I am happy for them to try..... Its an interesting world - certainly the biggest and least clear cut case I have ever dealt with from claimants side and given when it call kicked off we thought we would probably get nothing as that was the insurance industries initial response, anything is a bonus as far as my bosses are concerned and long may they think that like that.