Insurance rise after August?
Discussion
I've just been speaking to my mother who used to work in an insurance brokers. She claims that after the last day in August insurance prices are recalculated and will inevitably rise. She hasn't worked in the industry for a few years and this sounds like a myth to me, does anybody know if there is any truth in this?
StottyZr said:
I've just been speaking to my mother who used to work in an insurance brokers. She claims that after the last day in August insurance prices are recalculated and will inevitably rise. She hasn't worked in the industry for a few years and this sounds like a myth to me, does anybody know if there is any truth in this?
In the good old days, brokers would get a tape biked up to them, or maybe a disk sent, with all the new rates...and that was the new fangled ones with computer systems rather than 5 sheets of A4 with some numbers on.So it is possible that new rates would have been yearly, but I don't think they were ever synchronised between the carriers. Some of the "classic" schemes are probably still yearly.
Direct writers are certainly not once a year !
Noger said:
In the good old days, brokers would get a tape biked up to them, or maybe a disk sent, with all the new rates...and that was the new fangled ones with computer systems rather than 5 sheets of A4 with some numbers on.
So it is possible that new rates would have been yearly, but I don't think they were ever synchronised between the carriers. Some of the "classic" schemes are probably still yearly.
Direct writers are certainly not once a year !
Indeed, the market moves so quickly and competition is so tight that rates from insurers change all the time.So it is possible that new rates would have been yearly, but I don't think they were ever synchronised between the carriers. Some of the "classic" schemes are probably still yearly.
Direct writers are certainly not once a year !
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