Fraudulent Insurance Be Careful

[petertelford]

Hello I am back home now 01752 872123 or 07812192832
I would be interested to speak.
Peter

 

[Catamaran Cockatoo]

So do anyone think there is a real insurance company behind Edward William or is it a total scam?

I am in a particular situation and after about 60 hours of search trough about 40 insurers, I have very little options left. Either them or pay another insurer about 4% of vessel value every year (the norm being around 0.7%). So I will probably take up insurance with Edward William, hope it is a case of just seing the wrong side of things on the internet...

 

[gypsylady]

Peter,

SailorSnook joined in 2009 and only ever posted twice (2009 and 2013). I suppose he might be due to post again sometime soon.

It would be worth sending him a PM by clicking on his name above the initial message and choosing Private Message. You might find that this triggers an email notification to his own email and could be quicker than waiting for him to spot your post.

I see that his name was Malcolm Snook and he did have a web-site (www.sailorsnook.com). Unfortunately, that appears to be defunct and may be a dead end. I think that the website was in use up to March 2016 and is no longer registered. I don't think that the site held much detailed information.

I did note that there was an icon relating to "Land Sea Sky World Peace Foundation" and I see that there's a Malcolm Snook on Twitter (Author, pacifist and sailor). It would be worth using Twitter as an other avenue.

Sorry I can't be of more help.

How is it going with the action against Edward William ? I see they are still advertising and trading, i was looking at taking out insurance with them but i am very weary after reading the bad reviews.

 

[Heckler]

Yes. 07812192832. Or 01752872123 Peter Telford.

Sandyman, Graham 376 can you pass this on to Tony on Holy Mackerel, looks like the same insurance company?

 

[Graham376]

So do anyone think there is a real insurance company behind Edward William or is it a total scam?

I am in a particular situation and after about 60 hours of search trough about 40 insurers, I have very little options left. Either them or pay another insurer about 4% of vessel value every year (the norm being around 0.7%). So I will probably take up insurance with Edward William, hope it is a case of just seing the wrong side of things on the internet...

If the "norm" is around 0.7%, why do you have to pay 4%? I'm surprised anyone is willing to take a chance that the above is not a scam, with the potential to lose everything you possess in the event of an uninsured third party claim against you.

 

[Norman_E]

So do anyone think there is a real insurance company behind Edward William or is it a total scam?

I am in a particular situation and after about 60 hours of search trough about 40 insurers, I have very little options left. Either them or pay another insurer about 4% of vessel value every year (the norm being around 0.7%). So I will probably take up insurance with Edward William, hope it is a case of just seing the wrong side of things on the internet...

Why are others quoting you so high? In any event it cannot be worth paying anything at all to a company with a reputation for refusing all claims. Can anyone produce evidence that this company have ever paid a claim? There are plenty of people on this forum who have had valid claims paid out by the likes of Pantaenious, Bishop Skinner, GJW, and other reputable insurers, but I have never seen anyone say that Northern Reef have actually paid out, so why risk it? Bite the bullet and pay for insurance you can trust.

 

[Mistroma]

It seems weird that someone would make a first post to the effect that they will risk using this company. The rest of the post doesn't exactly inspire confidence in the company.

I can't think of any reason to even give this company a try.

 

[Graham376]

It seems weird that someone would make a first post to the effect that they will risk using this company. The rest of the post doesn't exactly inspire confidence in the company.

I can't think of any reason to even give this company a try.

Unless a vested interest?

 

[Mistroma]

Unless a vested interest?

You might very well think that; I couldn't possibly comment.

 

[AndrewB]

It seems weird that someone would make a first post to the effect that they will risk using this company. The rest of the post doesn't exactly inspire confidence in the company.

I can't think of any reason to even give this company a try.

You might, specially if you were voyaging. I did for a couple of years, fully aware of Northern Reef/Edward Williams reputation. For the price - a fraction of any reputable company, no survey required, and very little restriction on destination or type of use - you get an authentic looking document which can be waved at those marinas, and those countries, which insist on yacht insurance.

Perhaps too, at the back of my mind, was that if they were so tricky with their own customers, they would serve equally to mire any third-party claim against me.

 

[[3889]]

You might, specially if you were voyaging. I did for a couple of years, fully aware of Northern Reef/Edward Williams reputation. For the price - a fraction of any reputable company, no survey required, and very little restriction on destination or type of use - you get an authentic looking document which can be waved at those marinas, and those countries, which insist on yacht insurance.

Perhaps too, at the back of my mind, was that if they were so tricky with their own customers, they would serve equally to mire any third-party claim against me.

I think you'll find Photoshop is cheaper still if you only want a piece of paper offering no protection against risk at all.

 

[Mistroma]

I think you'll find Photoshop is cheaper still if you only want a piece of paper offering no protection against risk at all.

Beat me to it, I was going to offer a very impressive document for only £50 and 100% guarantee not to pay up under any circumstances. No nagging doubt about wasting your money, all up front about that part.

 

[AndrewB]

I think you'll find Photoshop is cheaper still if you only want a piece of paper offering no protection against risk at all.

But that's fraud. Obviously none of us here would have any truck with that!

 

[Mistroma]

But that's fraud. Obviously none of us here would have any truck with that!

Agreed, much better to pick a dodgy company let them make a profit and delegate the fraud to them.

 

[Graham376]

Beat me to it, I was going to offer a very impressive document for only £50 and 100% guarantee not to pay up under any circumstances. No nagging doubt about wasting your money, all up front about that part.

Alongside forged EU and UK marina receipts on B day, looks like you'll have a "nice little earner", as Arthur would say.

 

[pohopetch]

....... I have never seen anyone say that Northern Reef have actually paid out, so why risk it? Bite the bullet and pay for insurance you can trust.

I have insured with Edward William for off-shore insurance over various periods since 2007 (and currently) and they paid out a claim to us for several thousand pounds some years ago with no issues at all. Very straight forward to deal with and the yacht required repair somewhere there were no assessors or surveyors and the claim was accepted in full. I personally know of two other sailors who had claims paid by them (one a total loss) and one other who made a fraudulent claim, was paid out and then found out.

Many offshore marine insurance quotes now have premiums approaching 5% of the yacht value for long distance sailing (beyond common European waters) and it's clearly an individual decision on whether to pay this and go with a UK insurers or pay a lot less and go with a non-UK insurer. I think it's unfair to condemn Edward William on the basis of a hearsay complaint about not paying out when we know few of the details.

 

[Norman_E]

Its good to know that you have been paid by that company.

I would be put me off from insuring with them for two reasons, firstly the number of times the company has been the subject of posts on here about non payment, however justified; secondly I don't see how any insurer can price offshore yacht policies at less than a fifth of other companies rates, unless they take a very restrictive line on claims or have a lot of exclusions in their policy. Are we comparing like with like? Are this company providing mostly third party cover with limited "own loss" cover whilst others are fully comprehensive? If so that might explain the pricing difference. As they are not UK based the lack of recourse to the Insurance Ombudsman leaves you with no real recourse if they reject a claim.

 

[[3889]]

But that's fraud. Obviously none of us here would have any truck with that!

Not sure whether it is fraud. 'wrongful or criminal deception intended to result in financial or personal gain.' With no hope of any successful claim there is no gain

 

[webcraft]

You might, specially if you were voyaging. I did for a couple of years, fully aware of Northern Reef/Edward Williams reputation. For the price - a fraction of any reputable company, no survey required, and very little restriction on destination or type of use - you get an authentic looking document which can be waved at those marinas, and those countries, which insist on yacht insurance.

I did this for two years 2003-2004 then gave up as it seemed pointless. Was planning an Atlantic circuit 2-up on a 40 year old 27-footer, so no-one would insure us anyway.

Since then I have been happy with 3rd Party with year-round stay-afloat for all European waters. Paperwork for officialdom, makes me more careful, more philosophical and avoids survey costs. No liftout deadlines, either, and valid in the Canaries and the Azores.

Not sure how Mr. Williams is still getting away with this.


- W

 

[Cin70]

To anyone who has posted here as a victim of this company, don't forget if you paid the premium by credit card you have s75 insurance so can make the claim to the credit card company for breach of contract. You have 6 years to do so.