David Shield changes

[Why Me]

David Shield seems to be going through significant changes. Got a couple of mails, bunch of attachments, from them. Sample:

 

 The Allianz Group (“Allianz”) is closing its offshore insurance company, Hauteville Insurance Company. This is in light of new and more strongly enforced international insurance regulations.
 The DavidShield Group has reached an agreement with Allianz to transfer its existing portfolio into a new plan that is licensed in the European Union, the benefits of which are substantially similar to the Hauteville plan.
 We will also be rebranding our products in 2020 as “PassportCard”.

 

I am coming up for renewal soon and wondering what the concerns should be.

[dinga]

I just received the below answer from AA Insurance Brokers.  Must say I very don't much like the "nothing to worry about at the moment" and "nothing to worry about yet".  I've asked AA for clarification....

 

 

Thank you for your email.

 

Indeed there are some changes with David Shield.

 

They changed the Underwriter from Hauteville to Allianz Global.

 

But it’s nothing to worry about at this moment.

 

After three years they raised the premium (so for the first time) with 9% which is very normal in Insurance world.

 

So nothing to worry about yet.

Edited November 28, 2019 by dinga

[dinga]

AA's clarification re. worry comments was "In the context “a premium raise of 9%”.

 

 

[topt]

On 11/28/2019 at 11:33 AM, dinga said:

AA's clarification re. worry comments was "In the context “a premium raise of 9%”.

 

 

I have just paid my renewal premium and the rates quoted (per age bracket) were the same as for last year and it was specifically mentioned that there had been no premium increase.

Is the increase from the start of 2020 by any chance?

 

I have also had the mail about passport card and a new contact centre but nothing about the underwriter..........