Results 1 to 8 of 8

Thread: Insurance

  1. #1
    Subscriber Click here to find out how to Subscribe
    Join Date
    Jan 2009
    Location
    Co. Meath Irish Rep.
    Posts
    7,033

    Insurance

    The driving license thing and Ireland and Brexit have been done to death. Today’s indo. Check if you have British insurance. It is a criminal offence nor to have central bank authorisation for a financial institution outside the EU and you might not be covered. Sorry to be a pain but I think it’s important. JJH

  2. #2
    Subscriber Click here to find out how to Subscribe
    Join Date
    Mar 2015
    Location
    Naas, Ireland
    Posts
    4,207
    I'm with Principal and the policy is underwritten by AXA

    Principal themselves are setting up an Irish company as opposed to being just an Irish based branch of a UK broker.

    They sent out an email a couple of weeks ago.

    Sent from a U11

  3. #3
    Subscriber Click here to find out how to Subscribe
    Join Date
    Jan 2009
    Location
    Co. Meath Irish Rep.
    Posts
    7,033
    Anyone with a Irish based broker should be ok as the policy’s are designed for our market. It’s the policy’s that are obtained outside normal channels in the uk which are now legal because of the UK being in the EU will suddenly become void for anyone living in Ireland. That doesn’t mean visitors. It’s just something to be aware of. Remember if pulled for insurance you must be able to prove you are legal. Obviously if the policy falls outside Central Bank Regulation it would be deemed illegal and you would then be open to a serious charge of driving without a valid insurance certificate. JJH

  4. #4
    Subscriber Click here to find out how to Subscribe
    Join Date
    Oct 2005
    Location
    Wapping, London
    Posts
    54,438
    There are two (arguably three) separate aspects to the question as to what is legal after Brexit.

    1. As to whether there will be a period of grace, under which existing reciprocal arrangements will stay in place. Nobody knows the answer to that yet, nor how long any grace period might be

    2. That the intermediary dealing with the business from outside of the EU (for example a UK registered broker) is able to still deal with business (risk and exposure) emanating from within the EU, for example a UK registered intermediary dealing with Spanish compulsory third party motor liability. There are several ways by which an intermediary can become able to do this. The same applies to an EU domiciled intermediary seeking to do business into the UK

    3. That the insurer is themselves authorised to deal with EU exposures from the UK and visa-versa

    The important thing to note is that the duty to be EU / non-EU compliant cuts both ways.

    As regards point 3, the vast majority of the large motor insurers (Aviva, Axa, RSA, Equity Red Star etc etc) have already confirmed that they are EU / non-EU compliant. Many of the largest intermediary companies (brokers, for example) are similarly ready; I work for one.

    As regards points 2 and 3, it has come at a considerable cost: financial, legal and time consuming

    We now only wait to hear:

    A. If Brexit happens

    B. If it does, at what terms

    C. What the future looks like thereafter

    There is nothing useful bods can do in the meantime; so don’t worry about it. I don’t.

  5. #5
    Subscriber Click here to find out how to Subscribe
    Join Date
    Mar 2002
    Location
    Dublin & Andalucia.
    Posts
    4,579
    Principal have told me that all business will be transferred to Axa in next few weeks. So all renewals will be AXA.
    2002 1150 Adventure.

  6. #6
    Subscriber Click here to find out how to Subscribe
    Join Date
    Mar 2015
    Location
    Naas, Ireland
    Posts
    4,207
    Quote Originally Posted by luke scott View Post
    Principal have told me that all business will be transferred to Axa in next few weeks. So all renewals will be AXA.
    That's not good news. That will spell an end to the reasonable premiums we've had with Principal over the last few years.
    It's also at odds with a letter which they sent out a few weeks ago.

    Anyhoooo.....

    Sent from a U11

  7. #7
    Subscriber Click here to find out how to Subscribe
    Join Date
    Mar 2015
    Location
    Naas, Ireland
    Posts
    4,207
    Quote Originally Posted by luke scott View Post
    Principal have told me that all business will be transferred to Axa in next few weeks. So all renewals will be AXA.
    Sorry..... I'm confused...

    Do you mean AXA will just be the underwriter?

    My Principal policy is already AXA.

    I would hate to think that Principal are pulling out.

    Sent from a U11

  8. #8
    Subscriber Click here to find out how to Subscribe
    Join Date
    Jan 2009
    Location
    Co. Meath Irish Rep.
    Posts
    7,033
    Their not pulling out. Between Brexit and the previous insurancer they have moved to AXA. A good move if my experience with zenith is typical. They have registered with the Central Bank as a Insurence intermaderty in their own right rather than a sub office of the UK. JJH

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Anyone attending a Ride Out or Event organised through the UKGSer Forums does so at their own risk.
UKGSer.com or anyone organising an event posted here will not be held responsible in any way for damage or personal injury sustained while attending any such events.

Members attending any such event do so at their own risk.

The text, images, graphics, sound files, animation files, video files, and their arrangement on this Website are all subject to copyright and other intellectual property protection. These objects may not be copied for commercial use or distribution, nor may these objects be modified or reposted to other sites without prior written permission.

Disclaimer: Use or depiction of the BMW logo or trademark throughout this web site is for illustrative and editorial purposes only, and to the benefit of the trademark owner, with no intention of infringement of the trademark.

The UKGSer Forums may include adult content for which it cannot be held responsible. Your use of this website constitutes acceptance of the UKGSER network privacy policy



UKGSer is....

"a pernicious environment of toxic hostility" dean0n0 2019

"I have always known this community is full good people even if most of you cover it up with piss n vinegar" Chad 2018

"Its about being a grown up hooligan - and if that means a dark visor, remus open pipe and a bit of speeding out of town then all well and good" Kaister 2005