Insurance companies can sell their products throughout the EU

Lord Nikon

http://europa.eu/youreurope/citizens/consumers/financial-products-and-services/insurance-products/index_en.htm

So, technically, we can purchase motor insurance anywhere in Europe.

Special Circumstances

If I was going this route I'd probably leave it to broker based in this country rather than dealing direct, but sounds interesting!

shietpilot

Special Circumstances wrote: »

If I was going this route I'd probably leave it to broker based in this country rather than dealing direct, but sounds interesting!

Hopefully some brokers try to handle it! I'd say they could put a decent mark up on the cheaper insurance rates abroad and still be way cheaper than some insurers here.

Win-win situation if it works.

Special Circumstances

shietpilot wrote: »

Hopefully some brokers try to handle it! I'd say they could put a decent mark up on the cheaper insurance rates abroad and still be way cheaper than some insurers here.

Win-win situation if it works.

I think a few people here have already seen policies from brokers with Danish insurers or whatever.

I've always just gone direct and added this extra or that extra as I worked through the process but this year I'll probably have no choice but to leave a broker loose with a fixed list of requirements.

Del2005

Special Circumstances wrote: »

If I was going this route I'd probably leave it to broker based in this country rather than dealing direct, but sounds interesting!

At the bottom of the page it says to contact your national administrator, which is the ECC

http://europa.eu/youreurope/citizens/national-contact-points/ireland/index_en.htm?topic=shopping

Have you contacted them to see what's required?

Still don't see how you will be able to get around the fact that most insurance companies already have offices here and even then any new company will quote on our risks, not the risks in a country has a functioning legal system.

dr.fuzzenstein

Del2005 wrote: »

At the bottom of the page it says to contact your national administrator, which is the ECC

http://europa.eu/youreurope/citizens/national-contact-points/ireland/index_en.htm?topic=shopping

Have you contacted them to see what's required?

Still don't see how you will be able to get around the fact that most insurance companies already have offices here and even then any new company will quote on our risks, not the risks in a country has a functioning legal system.

Exactly. If the Irish market was such a Bonanza and an ocean of profit waiting to be explored, a lot of foreign insurance companies would have already muscled their way in here, underbid everyone else and completely cleaned up with vast profits. For some strange reason I get the weirdest feeling of Deja Vu writing this...
And any foreign company selling into the Irish market will take one look at the average payout and the level of claims and either turn any request down flat, or quote massive PFO premiums. because what good is it selling a dozen policies to Ireland and someone hits a bus and before you know it you're on the hook for a multi million payout.
It won't happen as long as we cnuts like this milking the system:

http://www.thejournal.ie/man-loses-e60000-claim-over-dancing-music-video-2825412-Jun2016/

Will he be done for fraud? Nah, case of slap on the wrist and "better luck next time"

Special Circumstances

Special Circumstances wrote: »

If I was going this route I'd probably leave it to broker based in this country rather than dealing direct, but sounds interesting!

Del2005 wrote: »

At the bottom of the page it says to contact your national administrator, which is the ECC

http://europa.eu/youreurope/citizens/national-contact-points/ireland/index_en.htm?topic=shopping

Have you contacted them to see what's required?

Still don't see how you will be able to get around the fact that most insurance companies already have offices here and even then any new company will quote on our risks, not the risks in a country has a functioning legal system.

Which part of my post does your random badgering disagree with?

Maybe you're suggesting brokers are operating illegally/irresponsibly in Ireland? Or that I shouldn't use a broker rather than randomly ringing people in Denmark of insurance?

Your post doesn't make a whole pile of sense as a counterpoint to my post but let's see if you can make something of it. Not saying it doesn't make sense on it's own, just as a counterpoint to mine its a bit odd really.

Maybe you're agreeing with me in a really odd way?

Del2005

Special Circumstances wrote: »

Which part of my post does your random badgering disagree with?

Maybe you're suggesting brokers are operating illegally/irresponsibly in Ireland? Or that I shouldn't use a broker rather than randomly ringing people in Denmark of insurance?

Your post doesn't make a whole pile of sense as a counterpoint to my post but let's see if you can make something of it. Not saying it doesn't make sense on it's own, just as a counterpoint to mine its a bit odd really.

Maybe you're agreeing with me in a really odd way?

What I'm saying is that even though any insurance company in the EU can offer insurance for Ireland the chance of it happening is slim, there are only a few insurance companies and most of them are already in the market. If you do get a quote from a company outside Ireland it'll be based on our risk factors, not theirs, so the quote won't be much cheaper.

Special Circumstances

Del2005 wrote: »

What I'm saying is that even though any insurance company in the EU can offer insurance for Ireland the chance of it happening is slim, there are only a few insurance companies and most of them are already in the market. If you do get a quote from a company outside Ireland it'll be based on our risk factors, not theirs, so the quote won't be much cheaper.

But why, based on the post you quoted, would I need to contact ECC?

joeysoap

dr.fuzzenstein wrote: »

It won't happen as long as we cnuts like this milking the system:

http://www.thejournal.ie/man-loses-e60000-claim-over-dancing-music-video-2825412-Jun2016/

Will he be done for fraud? Nah, case of slap on the wrist and "better luck next time"

What are the chances of him paying ?

He awarded costs against Adekunle.

To Elland Back

If a fellow EU Country wants to sell insurance to an Irish policyholder, there is nothing to stop them. They either set up an office here, or appoint an Underwriting Agency. This has been done for many years. They won't offer anyone the same rate as in their home country (how could they) and they won't sell you a policy directly from overseas.

Why do yo think the likes of AXA, Zurich, Royal Sunalliance, Aviva etc. have offices here? How many 'Irish' Insurance Companies do you think exist???

Special Circumstances

dr.fuzzenstein wrote: »

Exactly. If the Irish market was such a Bonanza and an ocean of profit waiting to be explored, a lot of foreign insurance companies would have already muscled their way in here, underbid everyone else and completely cleaned up with vast profits

To Elland Back wrote: »

Why do yo think the likes of AXA, Zurich, Royal Sunalliance, Aviva etc. have offices here? How many 'Irish' Insurance Companies do you think exist???

But surely a lot of these are high tailing it out of here with their tails between their legs? Don't we need fresh (naive, wreckless, foolhardy) blood to take their places?

mgbgt1978

Special Circumstances wrote: »

But surely a lot of these are high tailing it out of here with their tails between their legs? Don't we need fresh (naive, wreckless, foolhardy) blood to take their places?

We already got that with Sean Quinn...

...amd now we are all paying an extra 2% on all (non-life) Insurance Policies.

Having said that I'd say it's only a matter of time before a similar situation occurs due to the massive quotes nowadays, and later our glorious government will force us to pay again for somebody else's f#*k-up.

To Elland Back

Special Circumstances wrote: »

But surely a lot of these are high tailing it out of here with their tails between their legs? Don't we need fresh (naive, wreckless, foolhardy) blood to take their places?

Foreign insurers are always looking for new territories to explore and expand. I doubt there are any left who haven't realised what a basket case Ireland has become, insurance-wise, as we continue to screw over our fellow citizens

Special Circumstances

To Elland Back wrote: »

Foreign insurers are always looking for new territories to explore and expand. I doubt there are any left who haven't realised what a basket case Ireland has become, insurance-wise, as we continue to screw over our fellow citizens

I'll believe that there isn't money to be made from paddy when the foreign companies leave and pull the plug on us. What exactly is keeping them here?

Sh1tbag OToole

To Elland Back wrote: »

Foreign insurers are always looking for new territories to explore and expand. I doubt there are any left who haven't realised what a basket case Ireland has become, insurance-wise, as we continue to screw over our fellow citizens

But to gain insurance disc printing rights which are only required over here the foreign company needs to go through a long bureaucratic process and at the end of it revive Albert Reynolds from the dead in the crypt of a masonic lodge and shower him with cash, fags and dhrink because he was the last man alive who knew how to wield the sword that gave the disc printing rights.

They have to find the sword as well. Which I believe is stored at an office owned by Goldman Sachs

Special Circumstances

Sh1tbag OToole wrote: »

But to gain insurance disc printing rights which are only required over here the foreign company needs to go through a long bureaucratic process and at the end of it revive Albert Reynolds from the dead in the crypt of a masonic lodge and shower him with cash, fags and dhrink because he was the last man alive who knew how to wield the sword that gave the disc printing rights.

They have to find the sword as well. Which I believe is stored at an office owned by Goldman Sachs

Brilliant. Sounds like a dream I had after too much belgian beer. Was ok until Nicholas cage turned up.

To Elland Back

Special Circumstances wrote: »

. What exactly is keeping them here?

They're too far in to the game now to fold their cards. A lot of money put in to their infrastructure, serious claims which have already occurred will need cashflow to clear (reserves were not sufficient in many cases) and there is always the eternal optimism things will improve. I'd say if you offered any CEO a break even exit option, they would take it

Special Circumstances

To Elland Back wrote: »

They're too far in to the game now to fold their cards. A lot of money put in to their infrastructure, serious claims which have already occurred will need cashflow to clear (reserves were not sufficient in many cases) and there is always the eternal optimism things will improve. I'd say if you offered any CEO a break even exit option, they would take it

Break even my ass, I thought people in your line of business were supposed to be educated in risk and reward? Remarkable.

Plenty of companies close whole sites at a one off loss to appease the shareholders. Especially if that product line is losing money hand over fist, year after year, in a very troubled market, as we are assured is the case here.

Ongoing catastrophic losses call for a company to cut their losses.

Is it some moral obligation (lolz) that's making them take on more and more loss making business. Are they digging faster to get out of the hole quicker?

To Elland Back

Special Circumstances wrote: »

Is it some moral obligation (lolz) that's making them take on more and more loss making business. Are they digging faster to get out of the hole quicker?

I don't mind repeating what many people (fellow cartel members) have already explained to you

Insurers never want to take on more & more loss making business. A lot of effort is put in to getting rid of policyholders. They either increase the premium on their shlt business in the hope you'll bugger off, or they'll stop taking older cars, younger drivers, certain locations. They might insist on VAT numbers to quote a van, again hoping only the legitimate tradesmen go on their books. They could do it by refusing requests to add a driver, temp sub of vehicles, windscreen cover etc.

You have a good look at the Renewals Thread. People seem to think there is no logic or pattern to it. Anybody who is getting 10-20% increase, that is the new price for risks insurers want to retain. 20-50% means we would prefer not to have you, but if you stay you'll have to pay us top dollar. Anything over 50% means go away, pretty please.

Insurers only want the business they perceive will make profit (the don't always get it right, obviously). There are vast groups of business that insurers will not want AT ANY PRICE. Can you not understand that?

shietpilot

To Elland Back wrote: »

I don't mind repeating what many people (fellow cartel members) have already explained to you

Insurers never want to take on more & more loss making business. A lot of effort is put in to getting rid of policyholders. They either increase the premium on their shlt business in the hope you'll bugger off, or they'll stop taking older cars, younger drivers, certain locations. They might insist on VAT numbers to quote a van, again hoping only the legitimate tradesmen go on their books. They could do it by refusing requests to add a driver, temp sub of vehicles, windscreen cover etc.

You have a good look at the Renewals Thread. People seem to think there is no logic or pattern to it. Anybody who is getting 10-20% increase, that is the new price for risks insurers want to retain. 20-50% means we would prefer not to have you, but if you stay you'll have to pay us top dollar. Anything over 50% means go away, pretty please.

Insurers only want the business they perceive will make profit (the don't always get it right, obviously). There are vast groups of business that insurers will not want AT ANY PRICE. Can you not understand that?

Funnily enough my renewal this year is lower than what I paid last year and I'm very happy with the quote I got from Liberty Insurance. It's actually strange to see considering that most people are giving out about seeing 10-20% increases in insurance costs.

I would be in the high risk category myself being 20 y/o with 2 years NCB.

Special Circumstances

To Elland Back wrote: »

I don't mind repeating what many people (fellow cartel members) have already explained to you

Insurers never want to take on more & more loss making business. A lot of effort is put in to getting rid of policyholders. They either increase the premium on their shlt business in the hope you'll bugger off, or they'll stop taking older cars, younger drivers, certain locations. They might insist on VAT numbers to quote a van, again hoping only the legitimate tradesmen go on their books. They could do it by refusing requests to add a driver, temp sub of vehicles, windscreen cover etc.

You have a good look at the Renewals Thread. People seem to think there is no logic or pattern to it. Anybody who is getting 10-20% increase, that is the new price for risks insurers want to retain. 20-50% means we would prefer not to have you, but if you stay you'll have to pay us top dollar. Anything over 50% means go away, pretty please.

Insurers only want the business they perceive will make profit (the don't always get it right, obviously). There are vast groups of business that insurers will not want AT ANY PRICE. Can you not understand that?

So they're making money now?????
Or they'll eventually find that golden customer who never claims and will pay 3bajiilions for insurance?

What's your point - they are staying because they are making money, or they are staying out of the goodness of their hearts?

To Elland Back

shietpilot wrote: »

I would be in the high risk category myself being 20 y/o with 2 years NCB.

Like I said, it is perception (& experience) by Insurers. Liberty's book might be making money at the level of premium they are charging. The vast majority will refuse you a quote, or pluck a figure of €10k 'out of their arse'

I hope nobody thinks for a minute that Insurers actually want anyone to take up those silly quotes they get???

Special Circumstances

To Elland Back wrote: »

I hope nobody thinks for a minute that Insurers actually want anyone to take up those silly quotes they get???

make up your mind man, are they staying or are they going?

To Elland Back

Special Circumstances wrote: »

What's your point?

I've had my turn, someone else will be along later

Special Circumstances

To Elland Back wrote: »

Insurers only want the business they perceive will make profit (the don't always get it right, obviously). There are vast groups of business that insurers will not want AT ANY PRICE. Can you not understand that?

They don't always get it right... It seems if they are losing money hand over fist year on year that they NEVER get it right. The apocryphal dart throwing monkey would make a better job on average.

How's the 15year old car ban working out for the various believers.... raking it in are they?

Del2005

Special Circumstances wrote: »

make up your mind man, are they staying or are they going?

They'd get the hell out of dodge if they could. But they are in too deep now, up to 7 years to make a claim, that if they got out they'd still have liabilities but no income stream to cover future awards, so better to stay and increase premiums than run and loose even more.

With the huge premiums being charged here there should be queues of companies coming into the market to make massive profits, the fact that there's none shows how bad our market is.

The last 2 companies that offered cheap policies turned out to be pigs in a poke that we'll be paying off for ever.

Sh1tbag OToole

To Elland Back wrote: »

Insurers only want the business they perceive will make profit (the don't always get it right, obviously). There are vast groups of business that insurers will not want AT ANY PRICE. Can you not understand that?

That doesn't make sense. There is a price for everything, if a lad consistently crashes everyday and writes off a €25,000 car but he's willing to pay 50k a day for insurance surely you'd take him on

dr.fuzzenstein

Forget it, reason and logic don't work on that particular poster, he's just here for a rant and a troll.
Ignore ignore ignore ignore

Special Circumstances

Del2005 wrote: »

They'd get the hell out of dodge if they could. But they are in too deep now, up to 7 years to make a claim, that if they got out they'd still have liabilities but no income stream to cover future awards, so better to stay and increase premiums than run and loose even more.

They say they are losing money every year.
Taking on more loss making business in this "impossible market" will not help them at all. They can still fulfill their potential obligations without taking on more loss making business, why are they taking on loss making business.

Nobody is keeping them here against their will.

Special Circumstances

dr.fuzzenstein wrote: »

Forget it, reason and logic don't work on that particular poster, he's just here for a rant and a troll.
Ignore ignore ignore ignore

Do you honestly believe insurance companies are staying here out of the goodness of their hearts?

To Elland Back

Sh1tbag OToole wrote: »

That doesn't make sense. There is a price for everything, if a lad consistently crashes everyday and writes off a €25,000 car but he's willing to pay 50k a day for insurance surely you'd take him on

In a single post, you've displayed how little you understand the concept of insurance. Either that or your trolling senses haven't fully woken up yet, because it is a poor effort

The insured vehicle is only a small part of the claim. What are the odds of your serial crasher only damaging his own vehicle. More likely he is causing carnage & injury to others every time too. €50k a day wouldn't scratch the surface of the cost

Sh1tbag OToole

To Elland Back wrote: »

In a single post, you've displayed how little you understand the concept of insurance. Either that or your trolling senses haven't fully woken up yet, because it is a poor effort

The insured vehicle is only a small part of the claim. What are the odds of your serial crasher only damaging his own vehicle. More likely he is causing carnage & injury to others every time too. €50k a day wouldn't scratch the surface of the cost

It's a lad with an all terrain forklift. He hates Hyundai i40s with a passion. He drives it around to different car parks, takes exactly one i40 and smashes it to pieces after making sure it's empty.

Hunchback

joeysoap wrote:

He awarded costs against Adekunle.

Came here to say this!

Special Circumstances

Sh1tbag OToole wrote: »

It's a lad with an all terrain forklift. He hates Hyundai i40s with a passion. He drives it around to different car parks, takes exactly one i40 and smashes it to pieces after making sure it's empty.

I can't see a company refusing that deal.


Wait... the smashysmashy wagon isn't 15years or older is it? Because that would be off the table at any price obviously.

To Elland Back

Sh1tbag OToole wrote: »

It's a lad with an all terrain forklift. He hates Hyundai i40s with a passion. He drives it around to different car parks, takes exactly one i40 and smashes it to pieces after making sure it's empty.

While operating a forklift as a tool to smash the dreaded i40, he needs Public Liability cover, not Motor insurance. Given that his actions are a deliberate event rather than accidental, his public liability insurers will not pay out and he'll have to pay the damages himself

But you knew that yourself, being such a knowledgeable shltbag

Sh1tbag OToole

To Elland Back wrote: »

While operating a forklift as a tool to smash the dreaded i40, he needs Public Liability cover, not Motor insurance. Given that his actions are a deliberate event rather than accidental, his public liability insurers will not pay out and he'll have to pay the damages himself

But you knew that yourself, being such a knowledgeable shltbag

He wants you to create a policy for him that pays the owners of the i40s he destroys, doesn't want to deal with them himself. He needs the magic insurance disc for driving on the public road between car parks.

dr.fuzzenstein

Sh1tbag OToole wrote: »

It's a lad with an all terrain forklift. He hates Hyundai i40s with a passion. He drives it around to different car parks, takes exactly one i40 and smashes it to pieces after making sure it's empty.

Just WTF.

StudentDad

Oh this is a fun game Can I have a policy that magically protects me from the law and covers me for everything too? Oh purlease, can I, can I? I'd like to put a ram on my vehicle that shunts Nissan micras out of my way. That'd be so much fun.

*mutter*

SD

onetimecypher

My broker, Insuremyvan, got me insurance through Danish company, about 30% better than lowest "Irish company"

dr.fuzzenstein

onetimecypher wrote: »

My broker, Insuremyvan, got me insurance through Danish company, about 30% better than lowest "Irish company"

Thank you! A rare beast on these shores, a useful post.
yes, yes, irony, this coming from me, etc...

Sh1tbag OToole

StudentDad wrote: »

Oh this is a fun game Can I have a policy that magically protects me from the law and covers me for everything too? Oh purlease, can I, can I? I'd like to put a ram on my vehicle that shunts Nissan micras out of my way. That'd be so much fun.

*mutter*

SD

Ask Albert Reynolds after you revive him. He has the power

To Elland Back

dr.fuzzenstein wrote: »

Thank you! A rare beast on these shores, a useful post.
yes, yes, irony, this coming from me, etc...

My apologies to the forum. Despite my own experience & various warnings, I fed the trolls. Won't happen again

dr.fuzzenstein

To Elland Back wrote: »

My apologies to the forum. Despite my own experience & various warnings, I fed the trolls. Won't happen again

I'm the last person to apologies to in that case

To Elland Back

onetimecypher wrote: »

My broker, Insuremyvan, got me insurance through Danish company, about 30% better than lowest "Irish company"

The Danish Insurer they used, judging by their website, is via an Underwriting Agency by the name of Patrona. Their offices are in Wexford. Irish staff issue the policies and pay the claims

As I mentioned previously, Underwriting Agencies, based in Ireland, are the main way of getting a quote from other EU Insurers. It has been that way for many years

civitano

Back to the subject of this thread:
Has anyone managed to find out how to gather quotes from insurance companies based in other EU countries? What the procedure to get those quotes and what documentation is required? And most important: what companies will insure you?
Thanks

Special Circumstances

To Elland Back wrote: »

The Danish Insurer they used, judging by their website, is via an Underwriting Agency by the name of Patrona. Their offices are in Wexford. Irish staff issue the policies and pay the claims

As I mentioned previously, Underwriting Agencies, based in Ireland, are the main way of getting a quote from other EU Insurers. It has been that way for many years

civitano wrote: »

Back to the subject of this thread:
Has anyone managed to find out how to gather quotes from insurance companies based in other EU countries? What the procedure to get those quotes and what documentation is required? And most important: what companies will insure you?
Thanks

I honestly don't think ringing random companies and seeing how they feel about a one-off policy in Ireland is going to work.

It's like what To Elland Back said.
And what I said earlier - talk to brokers rather than going to the big guys direct. The brokers are the guys who will get you a quote from the foreign companies.

Although allegedly you will need to send a letter to the ECC and ask them specific magical questions about each quote your broker comes back it or why else would this poster have said this:

Del2005 wrote: »

At the bottom of the page it says to contact your national administrator, which is the ECC

http://europa.eu/youreurope/citizens/national-contact-points/ireland/index_en.htm?topic=shopping

Have you contacted them to see what's required?