Marine Insurance for sale on eBay - would you buy?

[tazzle]

A vendor described as being from Greece is currently offering Marine Insurance Agency for Sale

Same vendor (with zero feedback) is also offering insurance quotes.

Is the panel encouraged that this wonderful opportunity is entirely free of risk?
(he asks non-libellously with tongue firmly clamped between teeth)

EDIT - tip of the day

Do readers know that the valuable WHOIS database gives details of web domain owners / contacts? Just go to www.whois.net and enter the domain - say, for example, of the 'greek' principles of the insurance website template compass-gr.com .....

 

[BrendanS]

whois not that interesting for the website you mention though, as only contact given is for the company hosting the website (Serina), not the insurance company

 

[tazzle]

Agreed - except that it indicates the principles may not be quite as 'greek' as supposed and at least provides a starting point for anyone with an interest in searching for the principles..

And when a quick companies house search returns no results for the incorporated company that registered the domestic domain - not a limited liability company at all - and when a quick look at this index page reveals another familiar name....

 

[BrendanS]

It says nothing about the principles. It just says the hosting company is in the UK. If they are expats, they could easily have contact here.

 

[Norman_E]

Another case of "Round up the usual suspects"

 

[franky]

QUOTE " BEWARE OF GREEKS BEARING GIFTS"
OUZU OR RETSINA ACCEPTED

 

[andyball]

By sheer coincidence, this is the same company that furnished member jimboaw with a quote - placed with the well known Northernreef Insurance. see here for more.

Northernreef have their main office in Spain & according to their own info. are a company registered in Southern Africa. A company called Edwardwilliam.com advertise in several UK boaty magazines & will provide quotes & insurance with the Uruguay registered Northernreef Insurance. A UK company "DRL marine services" can also refer you to them & handle claims in the UK, but don't actually sell Northernreef policies.

Of course, if you were to start selling insurance in the UK, you'd need to be registered with the FSA - who might ask questions about the insurance company you intend to place your business with, although naturally it would be possible simply to make referrals to Compass Marine or Northernreef (for example )- then you wouldn't really be selling insurance at all & need not trouble the FSA.

Hope this helps - good luck with the business if you decide to go ahead.

 

[andy_wilson]

I asked this seller (compassmarine) a question?.

The answer (from foods-of-fancy( 182)*) is:

"no we are not connected with Northern Reef we are an independant company".

That's OK then!

 

[andy_wilson]

So I asked this seller (compassmarine) another question?.

And they admitted the link via the hosting, and that they used Northern Reef for quotes, so suddenly they are connected.

I suggested they did a Google on Northern Reef, to which they replied,

"Thats old hat, they took the dti to court at a cost of 2.4 million pounds and won.

No problem"

So that's OK then, no problem.