Check your aircraft insurance
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The advice is for any aircraft, not only helicopters - I posted a link to save retyping my post here.
I'm afraid I can't go into details for professional reasons, but you can assume I wouldn't have posted without good reason.
Tudor Owen
I'm afraid I can't go into details for professional reasons, but you can assume I wouldn't have posted without good reason.
Tudor Owen
A quick Google for "Folksam" connected with "insurance" came up with several hits. Perhaps the most pertinent, if out of date :
http://www.accountancyage.com/News/1130040 - PwC taking over as administrators of Folksam.
http://www.landwellglobal.com/images...%20Folksam.pdf - Announcement about a firm dealing with cross-border insolvency relating to Folksam.
I'm not an accountant, don't have an aircraft - therefore no insurance - but reading between the lines I'd be on the phone pretty damn quick to my broker, especially given the source of the advice.
http://www.accountancyage.com/News/1130040 - PwC taking over as administrators of Folksam.
http://www.landwellglobal.com/images...%20Folksam.pdf - Announcement about a firm dealing with cross-border insolvency relating to Folksam.
I'm not an accountant, don't have an aircraft - therefore no insurance - but reading between the lines I'd be on the phone pretty damn quick to my broker, especially given the source of the advice.
Last edited by The Nr Fairy; 25th Feb 2003 at 13:55.
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As mentioned on the main thread, there are two ways in which this might affect you:[list=1][*]Folksam issued some insurance policies direct using appointed agents.
eg Hall & Clarke Insurance Brokers Plc of Harrow, Middlesex
[*]Folksam may be the underwriters of your insurance policy.[/list=1]
eg Hall & Clarke Insurance Brokers Plc of Harrow, Middlesex
[*]Folksam may be the underwriters of your insurance policy.[/list=1]
Last edited by Heliport; 25th Feb 2003 at 17:45.
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posted 28th February 2003 16:16
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I am Chairman of Hall and Clarke
I can confirm that we had a scheme with 'Folksam' between 1991 and 2000. Such a scheme with delagated policy issueance is common place with all larger GA brokers.
The claim was rejected by Folksam. I believe this claim went into arbitration where it remains. I do not believe this case has been won or lost but remains in arbitration. There are no other claims outstanding and no policies in force. We have never placed any Helicopter insurance policies with Folksam.
We pride ourselves in customer service. If anyone has an issue please direct it to me.
Simon Clarke - Chairman
posted 28th February 2003 16:16
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I am Chairman of Hall and Clarke
I can confirm that we had a scheme with 'Folksam' between 1991 and 2000. Such a scheme with delagated policy issueance is common place with all larger GA brokers.
The claim was rejected by Folksam. I believe this claim went into arbitration where it remains. I do not believe this case has been won or lost but remains in arbitration. There are no other claims outstanding and no policies in force. We have never placed any Helicopter insurance policies with Folksam.
We pride ourselves in customer service. If anyone has an issue please direct it to me.
Simon Clarke - Chairman
Last edited by Heliport; 8th Mar 2003 at 16:45.
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It is refreshing to see the party "accused" prepared to give such a full and frank response and for the issue having been raised in the first place. Well done to PPrune for providing that forum and giving the opportunity for any further comment.
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Fuji
Agree 100% with what you say about Prune warning people that an insurance company had gone bust.
But, I don't agree the Chairman of Hall & Clarke gave a full and frank response. All he wanted to do was distance himself from Folksam now they've gone down the pan with his cstomers premiums.
And the only thing anyone "accused" Hall & Clarke of was helping the insurance company in a dispute when they were trying to get out of paying the syndicate. In spite of all his customer care boasting, the "Chairman" wasn't exactly "full and frank" about that. He sidestepped it altogether. I'm sure he would have been damn quick to deny it if it wasn't true.
I'll be giving these brokers a very wide berth.
Agree 100% with what you say about Prune warning people that an insurance company had gone bust.
But, I don't agree the Chairman of Hall & Clarke gave a full and frank response. All he wanted to do was distance himself from Folksam now they've gone down the pan with his cstomers premiums.
And the only thing anyone "accused" Hall & Clarke of was helping the insurance company in a dispute when they were trying to get out of paying the syndicate. In spite of all his customer care boasting, the "Chairman" wasn't exactly "full and frank" about that. He sidestepped it altogether. I'm sure he would have been damn quick to deny it if it wasn't true.
I'll be giving these brokers a very wide berth.
