Tradewise Cease Trading

Below are the companies involved in your insurance policy:

The insurance broker who arranged your insurance policy with Tradewise Insurance Services Limited.

The company who previously administered insurance policies on behalf of Berkshire Hathaway.

The duties that Tradewise used to handle have been taken over by Davies Group and Motor Data Solutions.

The insurer who is ultimately responsible for providing you with insurance.

This was true even before Tradewise ceased trading.

A service company in the Berkshire Hathaway group.

A separate company which has been appointed to manage underwriting administration and claims.

Appointed to facilitate vehicle changes and updates to the Motor Insurance Database.

Tradewise Insurance Services Limited have ceased trading. Tradewise’s online systems, including Tradewise Online and Broker Online are no longer available. Berkshire Hathaway have released a Tradewise Policyholder Notice which can be downloaded using the below button.

The contents of the Notice are also summarised on this page.

Berkshire Hathaway International Insurance Limited (“Berkshire Hathaway”) has been the insurer for Tradewise policies with a start date of 1 January 2020 or later. Faraday MGA Limited (“Faraday”) is its agent. If you have an active Tradewise policy underwritten by Berkshire Hathaway, it remains valid and in force.

However, there are some changes to how your policy will be managed which will differ from the contact information provided in your policy wording and schedule. These are explained below.

Responsibility for handling claims is transferring from Tradewise to Davies Group Limited (“Davies”). Davies has extensive experience of motor trade claims. If you have an ongoing claim, Davies will contact you or your insurance broker directly to introduce themselves and explain how they will take over the handling of your claim. If you have a third-party claim against your policy, they will also be contacting the third party or the representatives to do the same.

Any repairs or hire car arrangements already underway will be completed as planned.

You or your insurance broker can contact the Davies claims team by using the following contact details:

TWSclaims@davies-group.com
Tel: 0344 8562389

Notifying a new claim

Any new claim should be notified by you or your broker to the following contact details:

TWS.newclaims@davies-group.com
Tel: 0344 8562389

Unfortunately, we will be unable to offer renewal of your policy. We recommend you speak to your broker to make alternative arrangements as soon as possible before your policy expiry date.

Tradewise Online is no longer available to add or remove vehicles from policies, and to update the Motor Insurance Database (MID). You will instead be required to notify us of these changes using a new service called MIDAS provided by Motor Data Solutions Ltd (MDS).

The Username and Password will be supplied by MDS. In this MDS welcome email there will be a link to their website, a link to a You Tube channel for helpful videos on using and navigating MIDAS. Plus, a link to policyholder vehicle management document to assist with additions, updates and removals.

Davies Group will also provide customer service and administration support. If your broker updates your vehicles with Tradewise currently, the MDS notice will go to your broker instead.

It is possible it will take a few days for the new service with MDS to be operational once Tradewise Online is shut down. This is to allow for changes to be made to the MID records.

If you wish to make other changes to your policy, for example adding or removing drivers, changing address, or cancelling your policy, you should continue to contact your broker in the first instance. Your broker will then send the request to us by email.

We will issue a No Claims Bonus statement to you once your policy has expired. This will confirm the number of years with no claims agreed at the inception date of your policy and any recent claims activity.

We are happy to consider requests for Green Cards to provide cover for travel to the EU/EEA. Requests for these should be made via your broker.

If you wish to make a complaint, please contact Davies Group directly, or via your broker, by using the following contact details:

TWS.PolicyAdmin@davies-group.com

You can find more information about how we are managing Tradewise policies at the following website links:

https://www.faraday.com/Tradewise

www.bhiil.com/

If you require more details about how this may affect you, do not hesitate to contact us for further information.

Leave a Reply