Directors liable for claims made against company insurance?

Neelos76

We as a company believe (due to recent events) that van or car policies can be affected by individuals within the underwriting insurance companies rather than on pure information provided. Worryingly we were told recently by our broker that if we didn’t accept the deal offered by our current (at the time) insurance underwriter that we would not be allowed to re- apply for insurance with them as the woman involved had put too much time into trying to get us a good deal. I concede that due to our circumstances at the time there was:o a bit of work involved in finding us an acceptable policy but the fact we were told that if we didn’t take the deal we were note allowed to come back to her insinuates a level of personal grievance. Is this permitted within insurance law?

Neelos76

Apologies for the misleading headline above.
As a result of a minor accident late last year, combined with the theft of one of our vans around 3 years ago we were struggling to get a policy for our company van. We were given some ludicrous quotes and as such decided to try to insure the van under just one name; my business partner and fellow director (rather than the all driver policy we had)
Quotes came in online that we were willing to take but once we accepted the underwriter rang us and said that our driver hadn’t declared his past claims.
They say that because he signed the v5 document he is liable for all claims against that vehicle. The V5 is in our companies name but a director or secretary has to sign. Now they say that he has to declare these claims even on his own personal insurance. Surely this can’t be right?? If we had 100 vans would we be liable for every claim as individuals??

System

As a lorry driver any insurance claim that is made with me as the driver also affects my personal car insurance policy and I don't even own the lorry or pay the insurance on it.

If you're only having one driver on a company policy then their past claims have to be taken into account when taking out the policy. "All drivers" policies tend to be higher to compensate for the fact some of those driving will have a less than perfect history.

AdrianC

Neelos76 wrote: »

We as a company believe (due to recent events) that van or car policies can be affected by individuals within the underwriting insurance companies rather than on pure information provided. Worryingly we were told recently by our broker that if we didn’t accept the deal offered by our current (at the time) insurance underwriter that we would not be allowed to re- apply for insurance with them as the woman involved had put too much time into trying to get us a good deal. I concede that due to our circumstances at the time there was:o a bit of work involved in finding us an acceptable policy but the fact we were told that if we didn’t take the deal we were note allowed to come back to her insinuates a level of personal grievance. Is this permitted within insurance law?

If you had a customer that mucked you about, would you feel within your rights to refuse to deal with them in the future?

Why would an insurer be any different?

Neelos76 wrote: »

Apologies for the misleading headline above.
As a result of a minor accident late last year, combined with the theft of one of our vans around 3 years ago we were struggling to get a policy for our company van. We were given some ludicrous quotes and as such decided to try to insure the van under just one name; my business partner and fellow director (rather than the all driver policy we had)
Quotes came in online that we were willing to take but once we accepted the underwriter rang us and said that our driver hadn’t declared his past claims.
They say that because he signed the v5 document he is liable for all claims against that vehicle. The V5 is in our companies name but a director or secretary has to sign. Now they say that he has to declare these claims even on his own personal insurance. Surely this can’t be right?? If we had 100 vans would we be liable for every claim as individuals??

So your director has personally insured the van(s)? A policy in his name, which he's then reclaiming the cost of from the company as expenses, presumably?

If an individual has a policy in his name, then - yes - he needs to declare claims on that policy on his personal record, and vice-versa. Because it's his policy. Not the company's policy.

Same as if his wife's car is insured in his name, he needs to declare any claims on that policy on any other personal policy he has. Including this one.