CAMC change of insurance backer

[Buckman]

Previously I am sure that the caravan cover policy offered by the club was backed by Builder's Insurance or something similar however to day noticed that the underwriter has changed to Accredited Insurance (Europe) Limited who are based in Malta. Not that it makes any difference, but I was not aware of this change and do not recall being made aware of the change. Just a heads up for what it is worth.

 

[otherclive]

This was posted by Dusty back in February.

CAMC Insurance Broker Devitt sold to Gallagher.

Interesting development. I wonder if this will affect my Caravan Cover with the Club? Probably not . Hard to know who owns who these days, eg Boots the Chemist is up for sale. More drugs 🤪🤪🤪🤪

forums.practicalcaravan.com

 

[Buckman]

This was posted by Dusty back in February.

CAMC Insurance Broker Devitt sold to Gallagher.

Interesting development. I wonder if this will affect my Caravan Cover with the Club? Probably not . Hard to know who owns who these days, eg Boots the Chemist is up for sale. More drugs 🤪🤪🤪🤪

forums.practicalcaravan.com

I don't think that is for caravan insurance as Devitt or Gallagher are insurance brokers and not an underwriter or insurance company.

 

[Dustydog]

I don't think that is for caravan insurance as Devitt or Gallagher are insurance brokers and not an underwriter or insurance company.

Yes it is. All major World and Lloyds Brokers have millions invested in world wide Captive Insurance Companies..
Google Captive Insurance. Too complicated to go into detail post my surgery. There is nothing clandestine!

 

[Buckman]

Yes it is. All major World and Lloyds Brokers have millions invested in world wide Captive Insurance Companies..
Google Captive Insurance. Too complicated to go into detail post my surgery. There is nothing clandestine!

Sorry totally lost me now. No one mentioned anything about clandestine? Devitts and Gallagher are brokers and are not insurance companies?

 

[Dustydog]

My word clandestine .Yes the two you mention are Insurance Bokers. On behalf of many Corporate Clients they set up Captive Insurance Companies all over the World.
Premiums paid by the likes of us to CAMC are then managed by the Broker on behalf of the Captive Insurer. Also the Broker does the full claims management .

This will help. https://www.captive.com/captives-101/what-is-captive-insurance

 

[ProfJohnL]

I am certain that if the CAMC have changed backers, be it an insurance company or a broker, and it in any way caused the policy or scheme they offer they would have to inform customers. The fact they did not formally inform customers of the change means there was not effective change to the policies in place.

Apart from just information, is there any need to go through this old chestnut of whether its a policy or otherwise?

 

[Dustydog]

I am certain that if the CAMC have changed backers, be it an insurance company or a broker, and it in any way caused the policy or scheme they offer they would have to inform customers.

In my case yes they did

The fact they did not formally inform customers of the change means there was not effective change to the policies in place.

That was not my experience Prof. Was it yours?

Apart from just information, is there any need to go through this old chestnut of whether its a policy or otherwise?
Please please no🙀🙀

 

[Buckman]

I am certain that if the CAMC have changed backers, be it an insurance company or a broker, and it in any way caused the policy or scheme they offer they would have to inform customers. The fact they did not formally inform customers of the change means there was not effective change to the policies in place.

Apart from just information, is there any need to go through this old chestnut of whether its a policy or otherwise?

I never raised the "old Chestnut". You are the one that raised the "old chestnut". No one else is arguing about the cover or insurance! I clearly stated that" it did not make any difference".

 

[Raywood]

Provided they use a reputable insurer, there should be nothing to worry about in changing the stop loss insurer. This is similar to you changing your car or caravan insurer at renewal.