AXA have suddenly refused to reinsure our home

Chris1215

Hello,

I'm looking for advice of who to contact next.

As above, we have suddenly been informed that AXA will no longer insure us.

We cannot see that any of the reasons apply - no missed payments, four claims over the last 7 years, and none above about £200-300. 

When my husband enquired by phone he was told they had no information to give us as to why, and that the 'underwriters' had not given out that information to the person on the phone. Other than perhaps 'too many claims'.  Which they could also not define.

The irony is that one of the policy holders works for AXA (in an unrelated capacity to insurance). For this reason, our policy has had a staff discount. Maybe they no longer want to provide the discount, which would be annoying but ok. 

We will make a complaint, but in the meantime we have to have insurance and now find ourselves in the position of having to look for this. We are concerned that we will have to answer that we have had insurance renewal refused if asked, and also whether any of this could affect our credit score which has always been perfect.


We are hanging fire with making a complaint until we know that this will not affect us applying for insurance elsewhere (as in being asked, do you have any active complaints with any other insurers?).

You can see from the picture I've posted that there is a link to HomeProtect and AXA are suggesting we check that out. It gets more bizarre - it seems AXA are the underwriters for HomeProtect. Who are recommended to us by AXA...as a specialist company for people who have been refused insurance...

We have looked up HomeProtect reviews and these are not reassuring.

Does anyone have any advice for us?

Thank you very much.

user1977

From previous similar threads I think this is merely declining to give you a quote for renewal rather than a “refusal” you need to declare.

What are the grounds for your complaint? They don’t need to continue insuring you if they don’t want to.

la531983

They dont have to insure you in the same way you dont have to buy insurance with any other company, a complaint will get you nowhere. Insurers change risk profiles all of the time.

Annemos

user1977is correct. They can decide who they want to cover. Sometimes their risk profile appetite changes. 

Insurers do often ask how many claims one has had in the last 5 years. 

You will not normally have to declare this, I believe. It is just a decline to quote. (But see last point below.)

It will be a case of looking for another provider. 

(Homes which have had Subsidence are a different case. There are Industry Guidelines that a Homeowner should stay with the Insurer who handled the claim, wherever possible.) 

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Just found a comment from an expert in 2022:  Poster asked if he had to declare it.  

"The one exception is some ask about if you have been declined renewal terms in which case if this is RSA saying they wont renew your rather than wont offer you new business terms then you would have to declare it but only to the minority that ask that extra part to the question."

This was the Post


https://forums.moneysavingexpert.com/discussion/6364286/insurer-declines-to-quote

cw8825

Is there anything special/unnusual anout your home?high value or anything like that

2nd thought maybe they are withdrawing from the market as ‘Axa’
As homeprotect is underwritten by AXA they may still be able to insure you. 

Annemos

One other thing. 

It might be worth getting a copy of the CUE Record. (Claims and Underwriting Exchange). 

Then you can see if it is correct. Things stay on the CUE for 6 years after the Date of Closure of a Claim. 

This Database is often referred to by Insurers. 

One obtains it from the MIB and the application form can be filled in on line. You have to provide Proof of Identity, too. 

What you are after is your Claims History. 

The big green button at the top right is where you enter. 

https://www.mib.org.uk/managing-insurance-data/requesting-your-data/#:~:text=The%20Motor%20Insurers%27%20Bureau%20%28MIB%29%20is%20here%20to,years%2C%20you%20may%20request%20this%20data%20from%20us.

Annemos

Sorry, thoughts keep popping into my head. Did you only just find out about this at 2 days notice? 

That is far too late. 

SAGA had to pay me 70 pounds compensation back in 2020, for not telling me in time that their provider could not cover me.  I was only told 5 days before that they were dropping me. 

So a Complaint for Compensation re Late Notification might be in order. 

============================


This case says..... "Mr H says Admiral should have given him more notice. It’s this Service’s approach that we’d expect notifications about policy renewals to be provided between 14 and 30 days ahead of the renewal date which Admiral did in this case."

https://www.financial-ombudsman.org.uk/decision/DRN-3544040.pdf

=========================

And this one is an older one about AXA,  where the FOS said they were allowed to refuse to renew, due to a number of Claims in the previous five years. 


https://www.financial-ombudsman.org.uk/decision/DRN0612622.pdf

elsien

So how many claims have you made, and for what, if this is suggested as a possible reason?

I’m not sure you have much grounds for complaint given that they are not obliged to do business with you if they don’t want to. 

And as always, just to point out your credit score is meaningless. What counts is your credit history,  which is entirely different. 

DullGreyGuy

elsien said:
And as always, just to point out your credit score is meaningless. What counts is your credit history,  which is entirely different. 

Insurance is one place where the score isn't meaningless, certainly a while back there were two large insurance groups that used the credit score as a rating factor (but not in the decision as to if to offer instalments). 

As to the OP's concerns, only three things are recorded by businesses on your CRA... searches, the status of credit accounts and your address. For any lending decisions they will use your credit history, as Elsien says, not your credit score. Soft searches or searches marked as for insurance quotes are not going to be considered in deciding if to loan to you or not and a decliniture to quote isn't recorded with the CRAs.

Per the quote above, it's not a refusal, they pretty much dont exist anymore in consumer insurance since the 90s. Some companies do however ask if your last insurer has refused to offer a renewal, if that Q is asked then you would have to advise them of the Axa decision. 

Aretnap

Chris1215 said:

We are hanging fire with making a complaint until we know that this will not affect us applying for insurance elsewhere (as in being asked, do you have any active complaints with any other insurers?).

Pretty sure I've never been asked something like that when applying for insurance, and I doubt whether the FCA would look to kindly on an insurer that did, as it would have the effect of discussing consumers from making complaints.

Though as above I'm not sure I see what grounds for complaint you have: insurers are allowed to choose who they want to cover, and it may just be that they've changed their underwriting criteria and you no longer fall into their target market. That's OK, if they don't want your business you can take it elsewhere - there are dozens other insurers to choose from.

dunstonh

The irony is that one of the policy holders works for AXA (in an unrelated capacity to insurance). For this reason, our policy has had a staff discount. Maybe they no longer want to provide the discount, which would be annoying but ok. 

It could well be old scheme that they now longer wish to offer.     The FCA have instructed firms to look at legacy products and ensure that they still offer fair value.     If they don't they then they should move people off them.