Northern Reef/edward William

[Pusseycat doll]

Hi all,

 

I hope you are well during this crisis and chaos!

 

We have been with the above companies for 5 years, with no problems.

 

We have just been notified that Northern Reef have ceased trading! (See pic)

 

Is anyone here insured through the same company?

Or has anyone else had a similar problem?

 

There’ve been some good suggestions as to who to go through for boat insurance but I don’t see why would should have to pay any more than we already have.

If anything, we’d like a refund, so we can start looking again from the beginning, but I know that may be far-fetched.

 

Just looking to see if anyone else has been affected by the same thing.

 

TY in advance :-)

 

Adele

 

 

Sent from the Norfolk Broads Network mobile app

[Poppy]

Effectively you have been uninsured for five years !

https://www.fca.org.uk/news/warnings/edward-william-marine-services

"Insurance policies must be issued by an insurer authorised under the Financial Services and Markets Act 2000 in the UK, or an insurer authorised in a similar way by the laws of another EU country. Firms authorised in the UK to sell insurance should be regulated by the Financial Conduct Authority (FCA). Firms authorised to sell insurance in other EU countries and who do so into the UK market, should notify the FCA."

https://www.broads-authority.gov.uk/boating/owning-a-boat/tolls/insurance-and-adjacent-waters

[Heron]

Your policy through this outfit does not meet the requirements of the Broads Authority. When you make the insurance declaration on paying your toll you could be making a false declaration. I believe more info is available on the Financial Conduct Authority website and also by searching this forum for previous  posts on related matters.

[Guest]

I see that Edward William are based in Mijas on the Costa del Crime....that would put me on alert straight away and the word "scam" comes to mind. Think I will stick with Craftinsure.

 

John.

[Guest]

...in fact a little bit of digging brings a lot of c##p (going back quite some time) on Edward William and the company that they are saying has gone bust - Northernreef, with whom they have a connection, I would be very wary of parting with any more money. Edward William have moved offices several times on the Costa de Sol, having lived there myself it smacks of being closed down by the local authorities.

 

John.

[Meantime]

I sincerely hope that Tom reads this thread and takes this news back to his bosses at the BA. Many people have been warning about this outfit for years, and also the BA's negligence in stepping up to deal with this issue. For years they have asked people to make a declaration knowing and having been told that the policies from this outfit do not meet the requirements of the act.

[Meantime]

I have just checked the Edward William website. They are now acting as a broker for ION Insurance group. This company is based in Costa Rica. Once again like Northern Reef it WILL NOT meet the requirements of the BA declaration.

Again I hope that Tom reads this and passes the message on to the tolls department. The BA really need to get their act together on this and ask for details of who you are insured with rather than ask you to take the risk and make a declaration. The BA are not insurance experts, but they do employ solicitors with a damn sight more knowledge on this issue than your average toll payer.

[JawsOrca]

I never get how people still insure with this company, they have been "questionable" for many years.

I doubt Tom @BroadsAuthority is able to advise regarding this individual company's cover but Tom if you can shed any light it maybe helpful for some, certainly as this company seem to have a base in the broads.

OP..Just go with craftinsure.com. Underwritten by Zurich who was Navigators and general, you get the same level of cover as if you was direct with Nav and Gen who are one the best marine insurers around.

 

[marshman]

Not quite sure why the BA should really get involved - this was all brought up  however many years ago and it is not for the BA to check who is, or who is not, authorised by the FCA. You may also be in breach of contract with your mooring if you are moored in a boatyard, as they may have similar requirements.  I just don't understand how people never seem to learn to make enquiries about companies they have never heard of - especially based offshore!

Their "office" in Horning has been shut for a long time as well and I find it hard to understand how anyone was ever involved with these people - you have only to make the minimum of searches on the internet about them to have seen it was wise to steer away from them - doubts were raised as long ago as 2005 as far as i can see!

[Smoggy]

Or gjw direct, I've found them good in a claim.

[VetChugger]

Didn't you once get "T" boned and have a claim with Craftinsure Dave? I seem to recall that also went smoothly.

[eddybear]

I was insured with Edward William mainly because at the time insurance companies needed a full survey on a boat over 25 years old where Edward William didn't, But as from my renewal last year changed to navigate and general, about £60 more expensive but thank God I did.

[MauriceMynah]

I hope you haven't paid the extra premium because although if you have paid and may even have cover, it isn't recognised as has been fairly bluntly stated.

I'm afraid that if you have paid, I would suggest that money is lost. There is a slim possibility that cancelling the new policy might bring a partial refund but, if it does, I'd be tempted to think of it as a bonus.

There is only one answer really, and that is to get recognised insurance asap. I too would recommend Navigators & General, also Craftinsure has a good reputation.

There is one issue with all this that I would like members here to think on and give opinions.

I may be wrong but I believe it might be an offence to have two valid insurance policies on one item. If this is the case, care will be needed when sorting this mess out!

[Meantime]

46 minutes ago, MauriceMynah said:

I hope you haven't paid the extra premium because although if you have paid and may even have cover, it isn't recognised as has been fairly bluntly stated.

I may be wrong but I believe it might be an offence to have two valid insurance policies on one item. If this is the case, care will be needed when sorting this mess out!

Yes I may have put that bit in capitals but it was worth shouting the point because some of us have been raising this as an issue now for more years than I care to remember. Some of us have even raised it with the BA on more than one occasion.

To your last point it is not illegal to have two insurance policies on the same item such as a house, car or boat, in fact it happens surprisingly often by accident where people shop around for new insurance but forget about the other auto renewing. The real issue comes when you try to claim. If you attempted to claim from both companies they would then be in contact with each other to try and work out what percentage of the claim each would pay and this could severely delay any payment. Ultimately you will not get paid out in full twice and if you attempted to this would be fraud. Don't forget all UK regulated insurance companies contribute to databases on claims and pay outs.

Some inclusive policies will also provide you for cover for items that you may already have insured elsewhere. For instance items on the person outside the house may be covered by your holiday insurance as well as a combined perk of a value added current account which often will give health, life and other cover, or your home and contents policy. Your mobile might be covered by your phone company contract as well as your contents insurance etc.

[vanessan]

A few years back a rep from Edward William was wandering around BA moorings handing out business cards for the firm. I wonder how many got caught. If it hadn’t been for the forum, we certainly wouldn’t have been aware of the situation. 

[Poppy]

14 hours ago, marshman said:

Not quite sure why the BA should really get involved - this was all brought up  however many years ago and it is not for the BA to check who is, or who is not, authorised by the FCA.

It's the BA who require a self declaration of insurance cover. It is aooarent that a good number of toll payers are 'innocents abroad' as far as insurance is concerned.

Do you honestly tink that at the very least, it would be unreasonable for the Authority to offer some clarity on what is meant by the phrase "Insurance policies must be issued by an insurer authorised under the Financial Services and Markets Act 2000 in the UK" , rather than doing a 'Pontius Pilot' on the issue as they clearly have for the last 20 years or so ?

[Smoggy]

10 hours ago, VetChugger said:

Didn't you once get "T" boned and have a claim with Craftinsure Dave? I seem to recall that also went smoothly.

Yes Trev I did also have a claim with craftinsure that went well.

Which reminds me I have to check with GJW what the score is with not being able to keep an eye on the boat at the moment, I may have a delivery for work that way soon in which case I will be popping in to check, I sometimes double as the van driver and seeing as 7 were furloughed friday deliveries/collections will come my way.

[colino]

15 hours ago, JawsOrca said:

I never get how people still insure with this company, they have been "questionable" for many years.

I doubt Tom @BroadsAuthority is able to advise regarding this individual company's cover but Tom if you can shed any light it maybe helpful for some, certainly as this company seem to have a base in the broads.

OP..Just go with craftinsure.com. Underwritten by Zurich who was Navigators and general, you get the same level of cover as if you was direct with Nav and Gen who are one the best marine insurers around.

 

Me to craftinsure.com

[Vaughan]

I have just had a renewal note from our insurers, since it is now a year since we bought our boat.  When we bought the boat, I phoned the existing insurers and was able to take over the cover with a simple phone call and a couple of e-mails. 

When I paid the river toll in March I made the usual insurance declaration and sent an e-mail copy of my insurance certificate to the BA.  As I have not heard back from the BA (except with a receipt and with thanks for my payment) I assume my insurance must be satisfactory.

Surely this is all it needs?  What is the secret about it?  Anyone can copy a document by e-mail these days, even during "lockdown"! 

Why do we have to make a fuss about it when simple clarity, would remove any doubt?

 

[Pusseycat doll]

Thank you Poppy! How could we have been so stupid!
I was always suspicious of them but Steve insisted they were ok.

Thank goodness we never had a claim.

I wish I’d done more research.

I was right to be suspicious.


Sent from the Norfolk Broads Network mobile app

[Pusseycat doll]

Thank you Heron- I realise that now. I hope we can sort this out!


Sent from the Norfolk Broads Network mobile app

[Oddfellow]

There are number of people using language here that can and may very well get them into trouble.

Fraud and Fraudster are libellous. Who's got any proof of these allegations and accusations? I would suggest that nobody has because everybody is citing things they have read online. 

I appreciate that there is a clear problem with Northern Reef, but be careful about what kind of problem you might open yourselves up to with this language. 

 

[marshman]

I don't think I would go as far as to call it a scam - they just do not have permission to operate here in the UK. They get away with it elsewhere presumably as rules and regulations vary in different counties, even throughout Europe.

Our protection here in the UK is that companies offering financial services have to be authorised by the FCA - they are not. It may be individuals working for them meet the formal requirements elsewhere - but not in the UK. That is not as Andy says the same as being fraudulent or working  a scam.

I very much doubt that they could still be going for as long as they have, being a total scam. Prudence suggests that to get the kind of quality needed to operate in the UK is probably different and in those circumstances sensible to avoid - rather than illegal! Which is slightly different!!

[Meantime]

I have long been a critic of this company and the way it works, but more so because they do not qualify you to honestly complete the BA insurance declaration. However I would never suggest it is a scam or that they have committed fraud. However there may well be some legalities around selling insurance in the UK when you are not registered to. That however is a matter for the FCA.

 

[MauriceMynah]

Andy, without reading all that has gone before, I think the only talk of fraud was in a discussion about claiming on two insurance companies for the same loss, and a total claim at that. This would of course not be libellous.