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Apologies for this guys but need to get it off my chest

I have recently taken out Trade cover through Tradewise via a broker OnesureInsurance, cost wise not too bad, but..

Today I have received a cancellation notice due to not providing details of all directors of the company.  To explain a little the company is ltd company with 2 directors, myself and a silent investor.  I had explained the company setup when looking for quotes and received varying different ones which I clarified by having only myself on the insurance as I am the only one actively involved in the business.

Tradewise accepted this at the start but now want clarification of what each directors responsibilities are.  No issue in providing this, however they are asking me to advise the broker and they will inform them, again no problem or so I thought.

I have now been trying to contact the broker and have been listening to a ringing phone for approx. 1hr 14 mins and counting.  

How am I meant to provide anything to anyone when 

a. no one can confirm exactly what they require and in what form

b. no one answers the phone

c. no one has asked me prior to the cancellation notice for anything

d. the insurers will not deal direct

 

I know the industry is a bit of a 'mare, but this is now just taking the biscuit, I have jumped through every hoop set up and managed to get past all the different roadblocks but now  

 

Makes me want to just stick 2 fingers up at them all and go quietly into retirement.

 

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Get on to Ashley at UK Global, several members have got great service off him. Including me 

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Onesure are to be avoided. I've had all that crap in the past. Once you fulfill that request the next one is only a matter of time..

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On 6/10/2020 at 4:00 PM, Catalyst Auto said:

Apologies for this guys but need to get it off my chest

I have recently taken out Trade cover through Tradewise via a broker OnesureInsurance, cost wise not too bad, but..

Today I have received a cancellation notice due to not providing details of all directors of the company.  To explain a little the company is ltd company with 2 directors, myself and a silent investor.  I had explained the company setup when looking for quotes and received varying different ones which I clarified by having only myself on the insurance as I am the only one actively involved in the business.

Tradewise accepted this at the start but now want clarification of what each directors responsibilities are.  No issue in providing this, however they are asking me to advise the broker and they will inform them, again no problem or so I thought.

I have now been trying to contact the broker and have been listening to a ringing phone for approx. 1hr 14 mins and counting.  

How am I meant to provide anything to anyone when 

a. no one can confirm exactly what they require and in what form

b. no one answers the phone

c. no one has asked me prior to the cancellation notice for anything

d. the insurers will not deal direct

 

I know the industry is a bit of a 'mare, but this is now just taking the biscuit, I have jumped through every hoop set up and managed to get past all the different roadblocks but now  

 

Makes me want to just stick 2 fingers up at them all and go quietly into retirement.

 

I see it is a recently incorporated company and there are now 2 directors.Could it be that the undesclosed director is only 20 years old and who is also listed as a director of several other recently incorporated companies ?
I would imagine Traders Cover would be very expensive for a 20 year old should they be able to get a quote.Good luck.

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2 hours ago, trade vet said:

I see it is a recently incorporated company and there are now 2 directors.Could it be that the undesclosed director is only 20 years old and who is also listed as a director of several other recently incorporated companies ?
I would imagine Traders Cover would be very expensive for a 20 year old should they be able to get a quote.Good luck.

Incorporated in September 2019, 2 directors from the start.

The second director invested in the company and also several other companies to help with their tax as advised by the accountant and HMRC.  He has no influence on the running of the company and as such is not part of the insurance.  This information was provided at the initial stage of quotation to the broker, confirmed on acceptance and now it appears that it had never been passed through to the actual insurers.

My main rant is that information provided which would affect the premiums/cover was not provided at any stage to the insurer even though the broker had been given this information at several stages, this then had an impact on the business, luckily I managed to sort it but should never have been put in that position.

 

 

 

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4 hours ago, Catalyst Auto said:

Incorporated in September 2019, 2 directors from the start.

The second director invested in the company and also several other companies to help with their tax as advised by the accountant and HMRC.  He has no influence on the running of the company and as such is not part of the insurance.  This information was provided at the initial stage of quotation to the broker, confirmed on acceptance and now it appears that it had never been passed through to the actual insurers.

My main rant is that information provided which would affect the premiums/cover was not provided at any stage to the insurer even though the broker had been given this information at several stages, this then had an impact on the business, luckily I managed to sort it but should never have been put in that position.

 

 

 

Are you sorted now? I assume you’re not still on the phone since Wednesday! :D

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4 hours ago, BHM said:

Are you sorted now? I assume you’re not still on the phone since Wednesday! :D

Never know reduced staff these days :lol:

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