Paul Hurdsfield - Joint Manchester AO Posted February 5, 2004 Share Posted February 5, 2004 Yep just heard it on the news Doesn't affect me but we just lose another option when renewal times comes around Quote Link to comment Share on other sites More sharing options...
Blatman Posted February 5, 2004 Share Posted February 5, 2004 You can read all about it here... Quote Link to comment Share on other sites More sharing options...
david.c Posted February 5, 2004 Share Posted February 5, 2004 Yep just heard it on the news Doesn't affect me Same here Paul. I assume that those who are with them continue to be covered till their policy expires. David Quote Link to comment Share on other sites More sharing options...
adhawkins Posted February 5, 2004 Share Posted February 5, 2004 I would have thought so. HHH are just a broker aren't they, rather than an insurer? Andy Quote Link to comment Share on other sites More sharing options...
chris_p Posted February 5, 2004 Share Posted February 5, 2004 Your policy will transfer over to be covered by Norwich Union. They are part of the same group - so the news feed said anyway. Chris Quote Link to comment Share on other sites More sharing options...
Paul Hurdsfield - Joint Manchester AO Posted February 5, 2004 Author Share Posted February 5, 2004 Well as long as no ordinary punters lose their cover and dosh, I remember back in the late sixties and early seventies when some insurance company's went bust and people lost out Quote Link to comment Share on other sites More sharing options...
Blatman Posted February 5, 2004 Share Posted February 5, 2004 They patently aren't going bust, and even if they were, I believe that the various safeguards that the insurance industry has would mean that there wouldn't be anything to worry about......... Quote Link to comment Share on other sites More sharing options...
simoke Posted February 5, 2004 Share Posted February 5, 2004 We're insured with through them , looks as if we get insured through Norwich Union, hope so can't afford more insurance. Quote Link to comment Share on other sites More sharing options...
Nick Algar - Competition Secretary Posted February 5, 2004 Share Posted February 5, 2004 That's not good news, they were loads cheaper than anyone else last June. At least there is a bit of time to shop around. Quote Link to comment Share on other sites More sharing options...
peterg Posted February 5, 2004 Share Posted February 5, 2004 Alternatives for good quotes (ie not just cheap but they look after you) are MSM (very popular with the C*terham crowd) and Footman James - my 1966 Rover 2000's with them, £86 a year fully comp Quote Link to comment Share on other sites More sharing options...
felters Posted February 5, 2004 Share Posted February 5, 2004 Absolutely not going bust... the business will be transferred to Norwich Union direct. The 'net killed them off really. There are a load of other financial services organisations that will close branch offices in the next few years - these are the tip of the iceberg. Quote Link to comment Share on other sites More sharing options...
7SE Posted February 6, 2004 Share Posted February 6, 2004 HHH are just a broker aren't they, rather than an insurer? Whilst true, I suspect that this will be bad news for our community because... [and all this is -informed- conjecture ] They ran the kit car insurance out of one office staffed by people who knew what they were doing. Those people may, or may not, be retained. The scheme was probably not underwritten (insured) by Norwich Union but by some company, or Lloyds syndicate, that you or I have probably never heard of. NU are a mass market insurer who are looking to reduce the cost base of their direct operation by converting lots of HHH policies to themselves at renewal. Direct insurers like simple, uncomplicated, cheap to process policies - Westfields are a niche. With any luck the insurer will find another broker to carry on the scheme. Quote Link to comment Share on other sites More sharing options...
jeff oakley Posted February 6, 2004 Share Posted February 6, 2004 In my opinion this will have little or no effect. Where ever there is a void created something fills it. If the staff from the one office are let go one or two will see how much business they do and set up an independant broker to fill the void. Felters is correct though the more we use the net for services like insurance the more it will be allowed to happen. The company I work for set up a basic net trading site for customers to on line order less than six months ago, 10% of our business now comes through it, and this is the motor trade not well known for computer literate parts people. Next stop Bombay, Mumbai or whatever it is called today, imagine trying to explain the details of a motorcycled engined car you built in a shed, for insurance to a person who is 5000 miles away! Quote Link to comment Share on other sites More sharing options...
Tony B Posted February 6, 2004 Share Posted February 6, 2004 I got a letter from HHH today stating that they were part of NU things were changing and not to worry they would let me know in time... as long as my policy carries on and the cover doesnt change I dont care really.. Quote Link to comment Share on other sites More sharing options...
CateringVan Posted February 9, 2004 Share Posted February 9, 2004 HHH are wholly owned by NU, so hopefully the premiums wont change much. I beleive the scheme was fully underwritten by NU because NU have a specialist vehicles unit who job is to insure unusual cars. (NU used to say they would insure anything for the right premium) What I reckon will cause a lot more trouble is having to ring NU Direct (who are taking over the HHH operation) and try to explain exactly what a Westfield (or Caterham in my case) actually is...... The NU specialist vehicles unit are pretty switched on regarding our cars but AFAIK they dont deal directly with the public so things could get tricky for a while Quote Link to comment Share on other sites More sharing options...
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