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  1. #91
    Join Date
    Nov 2006
    Location
    essex
    Posts
    8,254

    Default Re: 18.2% increase in Y insurance premium, normal or what

    Quote Originally Posted by AllanG View Post
    Why???????
    Why not ???????

  2. #92
    Join Date
    Nov 2006
    Location
    essex
    Posts
    8,254

    Default Re: 18.2% increase in Y insurance premium, normal or what

    Quote Originally Posted by Elecglitch View Post
    Possibly, but most people I know in that 'game' can write coherently.
    Some people at the very top of the "game" ie ceo of one of the biggest Re-insurers in the business refer to it as such, as do his parents to whom I am directly related.

  3. #93
    Join Date
    Jul 2015
    Posts
    1,784

    Default Re: 18.2% increase in Y insurance premium, normal or what

    Quote Originally Posted by rubberduck View Post
    Some people at the very top of the "game" ie ceo of one of the biggest Re-insurers in the business refer to it as such, as do his parents to whom I am directly related.
    Yes, that's my experience as well. (The terminology not the parental relationship that is)

  4. #94
    Join Date
    Nov 2006
    Location
    essex
    Posts
    8,254

    Default Re: 18.2% increase in Y insurance premium, normal or what

    Quote Originally Posted by Elecglitch View Post
    Yes, that's my experience as well. (The terminology not the parental relationship that is)
    Understanding now, thought you were having a go at me, I blame it on the drugs I'm on.

  5. #95
    Join Date
    Apr 2011
    Location
    Boat- Western Med
    Posts
    5,461

    Default Re: 18.2% increase in Y insurance premium, normal or what

    Blimey this threads got legs and some have the attention span of a knat
    .
    Go to page 2 see my post ( sorry on phone no thread no ) and see a better termed Amlin for 1/2 price of what Y peddle.
    For those who can’t be arsed it’s Colman’s from Poole there “ Martello “ product for Mobo a .

  6. #96
    Join Date
    Dec 2005
    Location
    Live London
    Posts
    3,985

    Default Re: 18.2% increase in Y insurance premium, normal or what

    Quote Originally Posted by Osmosis View Post
    The basic principle of many pay into a pot from which the unfortunate are paid out is still the same .
    Well that is until the pot becomes empty and the many have to dig deeper. looking at this forum a number 11 syndicates at Lloyds have stopped marine insurance.
    That really is the worrying point and raises the question who next.
    Appears to me that whilst YYacht set the stall of cheap ,cheap,cheap principle over the past few years the question if Y were insurers and not an agent of Amlin perhaps with losses they may have encountered would they by now have gone down the swanny?
    Looks to me as if Amlin have issued a warning and increased rates to pull Y back into the land of reality.
    The response from Y lets blame it on Brexit not my our poor underwriting decisions.

    Isnt the princple of Y the former MD of Pantaenius who like other insurers increased rates?
    Sorry,this does not wash Amlin apper to have re jigged account as it is making a loss thats reasonable.

    If 18 % increase a high amount to swallow shop around

    Looks as if Y got risk review and maths wrong
    I agree to a point, but I would be surprised if all marine measure were placed in a single pot.

    Different pools have different risks ( storms in the Caribbean etc are well known and over a period X can be expected, and the pictures of destroyed boats keep on coming).

    You would expect a pool to make a profit over an insurance cycle - however long that may be, I would not really think that there would be mass subsidisation.

    My family used to have an association with insurance, and in a former life I had a passing relationship with Lloyds. The thing used to be ( and I don't know how much it has changed - anecdotal not much) that other than things like motor, premiums were often at the whim of the underwriter with astonishingly little oversight or process - they had been doing it for years and x was about right be it a ship or a space shuttle.

    I don't know how much this has moved on.

  7. #97
    Join Date
    Jun 2009
    Posts
    12,580

    Default Re: 18.2% increase in Y insurance premium, normal or what

    I just got a quote from Pants which is almost 50% more than either Y or GJW. I would never have described Y as a cheap insurer - but Pants is in a league of its own where premiums are concerned. I guess that they must have had some significant increases over the last few years - we were with them three or four years ago and when we moved to Y, they were only a little cheaper than Pants. That was for a boat of similar design and value to our current boat.

  8. #98
    Join Date
    Oct 2003
    Location
    Jersey
    Posts
    273

    Default Re: 18.2% increase in Y insurance premium, normal or what

    I can remember about 15 years ago when moving up from 20 ft sports boats into 30/40 footers that premiums where typically calculated around 1/2 % of the value , and for several years paid that, but over the last 5 years have seen this decrease to around 1/3% and have enjoyed very competively priced premiums, I just think we are seeing the market correcting itself. My current boat is worth about the same as the one I had in 2007 and on renewal last month with Y Yacht my premium has increased in line with others as described here, yet it is now exactly the same as I was paying for same value cover 12 years ago.
    Cheers
    Tetleys

  9. #99
    Join Date
    Mar 2002
    Location
    London
    Posts
    8,108

    Default Re: 18.2% increase in Y insurance premium, normal or what

    Quote Originally Posted by Portofino View Post
    Blimey this threads got legs and some have the attention span of a knat
    .
    Go to page 2 see my post ( sorry on phone no thread no ) and see a better termed Amlin for 1/2 price of what Y peddle.
    For those who can’t be arsed it’s Colman’s from Poole there “ Martello “ product for Mobo a .
    And Colemans were not any cheaper for me, so no half price bargain for me.

  10. #100
    Join Date
    Feb 2008
    Location
    Farndon
    Posts
    3,156

    Default Re: 18.2% increase in Y insurance premium, normal or what

    Quote Originally Posted by gjgm View Post
    And Colemans were not any cheaper for me, so no half price bargain for me.
    Colman's also unable to beat 'Y' for me.
    Only 'Y' and Saga in the running.

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