Castle Cover has announced that it is moving to a delegated underwriting authority arrangement with Ageas Insurance Limited (AIL) for both Home and Motor insurance. This means that all new business policies from 1 August 2013 will be provided by AIL.
Castle Cover will continue to work closely with its motor and home insurer partners over the coming year to ensure the smooth transition of existing customers onto AIL policies. Relationships with additional cover product providers remain unaffected.
For existing Castle Cover customers, this announcement has no impact on your policy or cover, and you should continue to contact Castle Cover in the normal way.
Customer Frequently Asked Questions
Q: What does this change mean to me?
A: Very little! You will still be dealing directly with Castle Cover for policy administration. If your policy is already underwritten by Ageas Insurance Limited then there will be no change for you. If your policy is underwritten by another panel member then this will only be changed at the point of your renewal.
Q: Why are you making this change?
A: As we are owned by Ageas, this is the right change for our business and customers. This means we can provide you with an excellent 'one business' approach from set up of your policy through to renewal and in the event of a claim.
Q: Will your prices increase?
A: We will continue to align our pricing with the market. The main reason for this change is to allow us to grow our business and the main way to grow our business is with more competitive products.
Q: I have received this notice in my renewal pack, what does this mean?
A: This means that at renewal of your policy you will no longer be insured by your current insurer and you will be insured by Ageas.
Q: I don't want to be insured with Ageas, so what now?
A: Castle Cover will continue to offer great service to our customers and aim to offer the products our customers want at a price which is competitive. Ageas has an award winning claims service and is widely recognised for its customer service. We believe we can continue to serve our customers through the Castle Cover brands and maintain our levels of service with the full support of Ageas.
Q: How do I know you’re still competitive for me?
A: By making these changes, it has allowed us to review and provide you with the most competitive rate for you. If you are unsure about or unhappy with the price you have received, please call us as keeping you as a customer is of great importance to us.
Q: Who is the FSA/FCA?
A: The FCA regulates the financial services industry in the UK, with the aim of protecting consumers, enhancing integrity of the UK financial system and promoting healthy competition between financial services providers in the interests of consumers. The FCA is one of the UK's two new financial regulators, working alongside the Prudential Regulation Authority (PRA). Together, they have replaced the Financial Services Authority, with effect from 1 April 2013.