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Underhand Underwriting Backfires |
By trying to poach his clients during a company changeover, the
action of rival insurance brokers has backfired, gaining insurance
broker Martin Goebbels two new accounts.
When a company director working in the credit and bonds division of ESR
Insurance Services was suspected of having acted fraudulently, the
management alerted the Financial Services Authority, who in turn called
the police. Finally, administrators were appointed in February.
By trying to poach his clients during a company changeover, the action of rival insurance brokers has backfired, gaining insurance broker Martin Goebbels two new accounts.
When a company director working in the credit and bonds division of ESR Insurance Services was suspected of having acted fraudulently, the management alerted the Financial Services Authority, who in turn called the police. Finally, administrators were appointed in February.
“We announced what had happened in the insurance press at 5.30pm on Tuesday, and by 11.30 on Wednesday morning, both of the brokers in question had written to various clients of ours,” Goebbels says.
“They were insinuating that we were in financial trouble and that clients were left uncovered, which just wasn’t the case. One of them had copied an unauthorised press story, and neither had bothered to call to check the accuracy of the story.”
Unrelated to credit and bonds, the entertainment division, which Goebbels heads, was transferred to longstanding Lloyds broker Crispin Speers and renamed Apex Insurance Services Ltd.
“All of the entertainment division staff, files, policies, insurer arrangements and everything just switched immediately over to Apex. There was no gap in any cover, and everything continued as it was,” he says. “It’s the same office, same phone numbers, and the same staff who’re sat in the same place.”
And despite the administrative upheaval and the actions of rival insurers, Goebbels reports that they’ve retained all of their clients. “In fact, we’ve picked a couple up who weren’t happy with the actions of the other brokers,” he says.
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