Deleted

[Deleted User]

Deleted by OP

Sandtree

You cancelling the policy is better than them voiding/cancelling it but it depends on how confident you are that you can evidence that you are a true motor trader and have answered all their questions honestly.  

AdrianC

Sophiechatters said:

I am a first time motor trader with zero no claims bonus (trade). ... I’ve been operating ... with ... my Dad who has traded his whole life but now is too old to get insured himself.
...
My broker told me ... they had suspicions I was fronting a business due to stock turnover etc

From what you've said, it does indeed sound as if you're a front for your father's uninsurable business.

Sandtree

Sophiechatters said:

Deleted by OP

A rather pointless exercise

Sophiechatters said:

Hi everyone,

I am a first time motor trader with zero no claims bonus (trade). As such, the only insurance company that would offer me a policy were Tradewise. I’ve been operating for 3 months now with the help of my Dad who has traded his whole life but now is too old to get insured himself. Last week, my broker contacted me asking for an exhaustive list of documents or my policy would be cancelled. I provided everything they asked for, only to be met with further requests for documents. This continued over the course of two  highly frustrated weeks and culminated in me receiving a note to cancel from Tradewise. My broker told me they were going to continue to make it as difficult as possible as they had suspicions I was fronting a business due to stock turnover etc and advised me to cancel before they voided it.

Tradewise are apparently the only company that will offer a policy to a first time trader so that leaves me with little other option.

Can anybody offer any suggestions or advice on what to do next please?

Many thanks in advance. 

NBLondon

AdrianC said:

Sophiechatters said:

I am a first time motor trader with zero no claims bonus (trade). ... I’ve been operating ... with ... my Dad who has traded his whole life but now is too old to get insured himself.
...
My broker told me ... they had suspicions I was fronting a business due to stock turnover etc

From what you've said, it does indeed sound as if you're a front for your father's uninsurable business.

Reading the whole version - it could be the OP has inherited the business, but the insurance co is suspicious that this is fronting and Dad is still running it.   If they insured the OP as a totally new business then too high a turnover would look odd.  The broker may have not done the best job here ???