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AXA have problems?
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Lusty
Posts: 84 Forumite
Saw on the news that AXA are shedding jobs at are cost cutting.I have an ongoing claim with them so this is of some concern (10 weeks now for £300).
What happens if they go skint?
Please advise!
Thanx in advance.
What happens if they go skint?
Please advise!
Thanx in advance.
Never skimp on Shoes,Tea bags and fishing tackle!
0
Comments
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Like most insurers, they have been cutting back on staff for years. Only difference now is that the media likes reporting it to help scaremonger.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Insurers like to cut jobs as the way they save money is either reducing staff costs, reducing claims payments or reducing advertising.
Insurers in the UK are now pretty stable and an Insurer going bankrupt is pretty unlikely. If your Insurers did go bankrupt there is some protection for claims, have a read of this website http://www.fscs.org.uk/consumer/key_facts/limitations_of_the_scheme/compensation_limits/0
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