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Old 19th June 2002 | 03:45
  #7 (permalink)  
Hairyplane
 
Joined: Mar 2002
Posts: 605
Likes: 0
From: Midlands
Insurance

I have been with the same broker for years. I shopped around at renewal, quoting just one - my most valuable aircraft. I just wanted to know that my loyalty was being repaid by the most competitive premiums.

I encountered some indignation when I went back to my existing brokers. They told me that 'the underwriters had already quoted another broker'.

Surely the underwriters have a duty to keep matters confidential? Brokers commissions will invariably differ thus affecting the premium, even though the same underwriter has quoted.

So - if you shop around, your broker will know about it.

Seems wierd to me.
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