FSCS has started the process of paying return of premiums to policy holders who previously had insurance with Enterprise Insurance, the Gibraltar based insurance company. We expect to pay thousands of motor policies in the next few days. |
The firm was deemed insolvent by the Gibraltar Financial Services Commission (FSC) in July. Since then, the liquidator Freddie White of Grant Thornton has been reviewing the status of the company. This morning, Freddie White disclaimed the company’s motor insurance policies; he will go on to handle non-motor policies in the coming weeks. FSCS has been working closely with the liquidator and the FSC to determine the best way to protect UK policyholders. Now that the decision has been made to disclaim the motor insurance policies, FSCS can start paying return of premiums. This is an automatic process and consumers do not need to do anything to claim the compensation. The failure affects about 46,000 UK customers with Enterprise motor insurance policies.
FSCS Chief Executive, Mark Neale says: “FSCS is now paying compensation to thousands of policyholders now that Enterprise motor policies are no longer valid. If you are not sure if you are eligible for compensation then speak to your insurance broker. Again, I would strongly urge you to check your insurance and if necessary find new cover immediately to avoid breaking the law and putting yourself and others at risk by not having a valid insurance policy.”
More information about how FSCS will compensate consumers is available on the FSCS website. If you are unsure whether you were covered by Enterprise Insurance you should look at your policy documents and speak to your broker. |
|
|
|
Pensions Data Science Actuary | ||
Offices UK wide, hybrid working - Negotiable |
Head of Pricing | ||
London - Negotiable |
Global Specialty Pricing Actuary | ||
London - £95,000 Per Annum |
Client-facing DC investment manager | ||
London / hybrid 3 dpw office-based - Negotiable |
Financial Risk Leader - Bermuda | ||
Bermuda - Negotiable |
Aylesbury Actuaries | ||
Aylesbury / hybrid 3dpw office-based - Negotiable |
Make an impact in protection pricing ... | ||
London / hybrid 2 days p/w office-based - Negotiable |
BPA Implementation Manager | ||
North / hybrid 50/50 - Negotiable |
Head of Reserving | ||
London - £160,000 Per Annum |
In-force Longevity Actuarial Analyst | ||
London / hybrid 2 dpw office-based - Negotiable |
Make a difference within reinsurance ... | ||
London / hybrid 2 dpw office-based - Negotiable |
Be at the cutting-edge of life & heal... | ||
London / hybrid 2 dpw office-based - Negotiable |
Longevity Pricing Analyst | ||
London / hybrid 2 dpw office-based - Negotiable |
Develop your career in life reinsuran... | ||
London / hybrid 2 dpw office-based - Negotiable |
Protection Pricing Actuary - Life Rei... | ||
London / hybrid 2 dpw office-based - Negotiable |
Life (Re)insurance Pricing Manager (P... | ||
London / hybrid 2 dpw office-based - Negotiable |
Take the lead: life & health reinsura... | ||
London / hybrid 2 dpw office-based - Negotiable |
Pricing Tools and Systems Developer | ||
London / hybrid 2 dpw office-based - Negotiable |
Longevity Pricing Actuary | ||
London / hybrid 2 dpw office-based - Negotiable |
Shape the future of longevity | ||
London / hybrid 2 dpw office-based - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.