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Arb Insurance Companies


sime42
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On 02/04/2020 at 20:54, skyhuck said:

Pretty standard, in my experience. Its not possible to know what your turnover will be at the beginning of the year and really a dramatic rise in turnover usually reflects an increase in work done and thus and increase in the risk of a claim

Yes totally agree with what you are saying hear, when i was asked what my projected turnover was going to be i just replied, i dont know ? then said to the guy on the other end of the phone, is my phone going to ring,?, am i going to get run over by a bus ? then i asked him if i dont do the turnover i am expecting do i get some money back ? his answer was no, so no supprise there then, then i asked him what he earnt a year and he would,nt tell me, 

So with the year we have had this year with covid, and what we are facing for next year some companys will go under thats for sure, and most will have a reduced income, so with those 2 points insurance companys turnover will be down, so will this be past on to the remaining customers ? and if our turnover is projected lower than years gone by will we be getting a reduction in insurance costs, i dought it very much, all we will get is increased payments,

Going back to when i first went self employed your PL insurance covered you for about everything you did and i can remember going in to a small insurance brokers and getting my fist PL insurance for £23 for the year,  

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