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Insurance broker refuses to disclose name of insurer until sale is complete.

  • 03-04-2016 1:16pm
    #1
    Dave_Kilkenny
    Registered Users Posts: 181 ✭✭


    Hi, I'm currently shopping around for motor insurance and one insurance broker provided me with an attractive quote, however they are flat out refusing to say who the quote is with due to the level of discount offered.

    This is a little concerning the lack of transparency they are offering.

    My question is can a insurance broker sell an insurance policy but refuse to disclose the name of the insurance company?

    I understand why they might do it to prevent cross shopping, but that doesn't seem a good enough reason to refuse to disclose the insurer when I confirmed I want to buy the product.
    I refused to go ahead until they could confirm the insurer - they won't budge.


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,725 Mod ✭✭✭✭Henry Ford III


    Take it - you'll be able to cancel during the cooling off period if the insurer is that bad.


  • #3
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    Dave_Kilkenny wrote: »
    Hi, I'm currently shopping around for motor insurance and one insurance broker provided me with an attractive quote, however they are flat out refusing to say who the quote is with due to the level of discount offered.

    This is a little concerning the lack of transparency they are offering.

    My question is can a insurance broker sell an insurance policy but refuse to disclose the name of the insurance company?

    I understand why they might do it to prevent cross shopping, but that doesn't seem a good enough reason to refuse to disclose the insurer when I confirmed I want to buy the product.
    I refused to go ahead until they could confirm the insurer - they won't budge.

    I had an online insurer do this too to me. It was a really good insurer in the which meant it wasnt too bad. They generally all use AIG. Several of my friends I have brought insurance online with other brokers and they were all AIG


  • #4
    To Elland Back
    Closed Accounts Posts: 1,923 ✭✭✭To Elland Back


    The reasons they are doing this are twofold. You could be a competitor doing a mystery shop (which goes on non-stop in insurance) or because you might go back to your current broker and get them to put you with the proposed insurer, which is rewarding them for their laziness.

    Regardless of this, you are entitled to ask for a specimen policy booklet for the insurer you intend to take out cover with


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