Insurance Scammers - Top 5 Tips

I had a lovely conversation with someone the other day who informed me that I needed to review my insurance. They insinuated that they knew I had insurance, that they knew what I had and that it was in relation to my mortgage.

The conversation went a little like this:

• Caller: Hi, you have insurance covering your mortgage and you should have been informed to review it every 18 months.
• Me: Yes, I have insurance for my mortgage.
• Caller: Brilliant, so you have the cover that you need for your mortgage of…?
• Me: Yes, I have cover for my mortgage, which of my insurance policies are you referring to?
• Caller: The one for your mortgage
• Me: Ok, I have a few policies can you tell me which one exactly.
• Caller: Well we represent Insurer A, Insurer B and Insurer C.

This is where it started to get really interesting. I felt a little sorry for the caller, he had no idea that he had just launched a red flag at a Taurean and a compliance officer within the insurance industry. Poor guy.

• Me: Ok, so where are you calling from.
• Caller: Insurance Scammers R Us. (number showing on my screen indicating Swansea area)
• Me: What is your name?
• Caller: Mr. Insurance Scammer.

Now this is where it got really good.

• Me: What is your company FCA number?
• Caller: <Stutters> Why, why, do you want to know that?
• Me: I want to make sure that you are a legitimate company?
• Caller: I cannot give out that information to you.

This is the part of the conversation where I really came into my own.

• Me: Well, yes you can because it is my right as a customer to make sure that you are a legitimate company.
• Caller: We are a legitimate Limited company.
• Me: Well, good for you, but I dont care about that. I want to see that you are on the FCA register as an accredited company.
• Caller: I cant give you that information.
• Me: Well unfortunately for you I own my own insurance brokerage and I am a compliance officer
• Caller: <Awkward silence…>
• Me: I want to know your FCA number as you have told me I have insurance with Insurers A, B or C, none of which I have.
• Caller: I didnt say that.
• Me: Yes you did. You informed me that you represented those three insurers and that is misrepresentation on your part. You have also failed to tell me if you are recording this call.
• Caller: We do record our calls.
• Me: So that is at least your second mistake.

It continued to be an interesting conversation and I feel sorry for the guy at the other end, who unfortunately picked up my number from the auto dialler. Let’s just say that he very quickly hung up on. So rude, I was enjoying myself by that point.

Top 5 things to do if you think you are being scammed!

1. Do not get drawn in by vague details
   • Make them tell you what insurance you have in place
   • Do not give them any personal details
   • Ask them to go through data protection that only your insurance provider/broker would know e.g. date of birth, postcode, type of insurance that you have, sum assured that you have in place
2. Ask for the company FCA number
   • This is your right as a customer
   • Get the number and search for the company on the FCA register https://register.fca.org.uk
3. Get as much information as you can
   • Make a note of the number that you are called on
   • Get the callers name
   • Note the date and time
   • Get the company name
   • Ask them where their offices are based
4. If you used one, find your original broker details on your documentation and call them direct
   • They will then be able to advise you if the call is legitimately from them reviewing your cover
5. Report the call
   • If you get a scam insurance phone call, report as much detail as you can to Trading Standards

It is a shame that some companies take this approach to confuse and trick consumers. Quite frankly, it makes my blood boil as it makes it so much harder for legitimate businesses to be taken seriously. It is our company policy to only contact clients who have registered their details directly with ourselves or through an introducing broker, for this exact reason.

You can rest assured that you will never get a cold call from us!