Enterprise Company PLC Policyholders

Update December 2016

The FSCS Claims process may be accessed at https://claims.fscs.org.uk/

Customers simply would need to click on the “Start a new claim” – Get Started button

Please do not hesitate to contact the team if you Require assistance.

 

Update 26.10.16

Enterprise Insurance Company update, Wednesday 26th October

The Supreme Court of Gibraltar has today, 26 October 2016, appointed Mr Freddie White of Grant Thornton (Gibraltar) Limited as Liquidator of Enterprise. The Court considered the report of Mr White as Provisional Liquidator which set out his findings that the company is insolvent and his recommendation that a Liquidator be appointed.

The Liquidator will now begin the process of winding up the company under the supervision of the GFSC. He will be notifying all creditors of EIC of his appointment. He will be considering claims and whether these may be paid by the company.

The Liquidator has today disclaimed all Enterprise motor insurance policies. This means that as from midnight today, 26 October 2016, all Enterprise motor policies are no longer effective. Policyholders can no longer rely on their Enterprise Insurance policies to support their right to drive. Policyholders will be considered as driving without insurance. . Policyholders that do not have alternative cover are advised to contact their brokers immediately.

Mr White is in contact with the compensation schemes in the various countries in which Enterprise wrote business to coordinate with them the processes by which eligible claims may be paid from the schemes. We will update our website with further information regarding these processes as it becomes available.

You can still email the Liquidator and his team at info@eigplc.com or you can call them on 00350 200 50150.

 

update 3.10.16

XYZ Insurance are now contacting Enterprise policyholders to assist with finding alternative cover. Please see the latest update from the GFSC

GFSC notice – Important update from Provisional Liquidator, 30 September 2016

The Provisional Liquidator of Enterprise Insurance Company Plc has today written to insurance brokers to advise that he intends to terminate all Enterprise insurance policies on 26 October 2016. You can find a copy of the notice here.

This means that policyholders now need to take action to find new insurance cover before 26 October 2016. Policies remain valid until 26 October 2016. After this deadline and following the termination, Enterprise insurance policies will not be valid and Enterprise motor insurance policyholders will no longer be able to legally drive under these policies.

The Provisional Liquidator has taken this step in order to give as much notice as possible to brokers and policyholders of his intention to terminate the contracts on 26 October 2016. This is based on his work that indicates that Enterprise Insurance Company Plc is insolvent. The Provisional Liquidator will be reporting back to Court on 26 October 2016 with his final report and will likely recommend that a liquidator be appointed.

Brokers will now be contacting policyholders to advise on finding alternative cover. If policyholders have any questions they should refer to their broker.

We continue to work with European regulators and the various compensation bodies to ensure that policyholders’ interests are looked after.

 

Last updated 08.08.16 

Communication from the Provisional Liquidator of Enterprise Insurance Company plc on 8th August 2016

On the 25th July 2016 the Gibraltar Supreme Court appointed me as Provisional Liquidator of Enterprise Insurance Company plc (“Enterprise or the “Company”).

I am now managing the Company’s affairs under the supervision of the Gibraltar Financial Services Commission and will report back to the Supreme Court within three months.

Insurance policies issued by Enterprise have not been cancelled or disclaimed but I am unable to currently pay any claims arising under such policies. It is also uncertain if the Company’s assets will be sufficient to meet insurance claims in full.

In these circumstances it is advisable for policy holders to contact their brokers.

I am in contact with the compensation schemes in the various countries in which Enterprise wrote business to coordinate with them the processes by which eligible claims may be paid from the schemes. I will update this website with further information regarding these processes as it becomes available.

I am making arrangements for claims managers to continue to administer, process and agree claims for admission as insurance claims and for submission to compensation schemes as applicable. Policyholders should continue to notify claims in accordance with the details set out in their policy documents.

Any queries from policy holders or others may be directed to info@eigplc.com or by telephone at number +350 200 50150

United Kingdom Policy Holders

All policyholders with claims arising should continue to notify such claims in accordance with the contact details set out in their policy documents.

Claims Consulting Solutions Ltd (“CCSL”) continues to manage claims arising under policies of motor insurance. Claims arising under such policies should be notified to them at:

Claims Consulting Solutions Ltd 20, St Marys Parsonage 8th Floor Cardinal House Manchester M3 2LY Telephone: 0330 102 6986 Fax: 0845 643 6661 Email: info@claims-consulting.co.uk

The Financial Services Compensation Scheme (“FSCS”) has worked closely with me to facilitate the process whereby eligible policyholders may claim upon the compensation scheme. CCSL will process eligible claims for submission to the FSCS and third party compensation payments have been made already. It is hoped that own damage compensation payments may commence this week.

Motorway Direct PLC continues to process claims arising in respect of the following classes of business:

GAP Insurance Motor Warranty Brown and White Goods Warranty Motorway Direct PLC contact details are: Telephone: 03300 555 262 Email: Customerservices@motorwaydirect.co.uk

I am working with the claims managers of these and other business classes to establish the process of submission of eligible claims to the FSCS. Further details will be added to this website in due course.

Information regarding the Financial Services Compensation Scheme may be obtained at the FSCS website.

Frederick White Provisional Liquidator Enterprise Insurance Company plc

 

 

Last updated: 28.07.16

Please read the following statement as it applies to all Enterprise Insurance PLC policyholders.

Communication from the Provisional Liquidator of Enterprise Insurance Company plc on 28th July 2016

On the 25th July 2016 the Gibraltar Supreme Court appointed me as Provisional Liquidator of Enterprise Insurance Company plc (“Enterprise or the “Company”).

I am now managing the Company’s affairs under the supervision of the Gibraltar Financial Services Commission and will report back to the Supreme Court within three months.

Insurance policies issued by Enterprise have not been cancelled or disclaimed but I am unable to currently pay any claims arising under such policies. It is also uncertain if the Company’s assets will be sufficient to meet insurance claims in full.

In these circumstances it is advisable for policy holders to contact their brokers to arrange alternative insurance cover.

I am in contact with the compensation schemes in the various countries in which Enterprise wrote business to coordinate with them the processes by which eligible claims may be paid from the schemes. I will update this website with further information regarding these processes as it becomes available.

I am also engaging claims managers to continue to administer, process and agree claims for admission as insurance claims and for submission to compensation schemes as applicable. Contact details of my claims managers will be added to this website shortly.

Click here to link directly to the source webpage for further info http://www.fsc.gi/fsc/EnterpriseStatement.htm

We were advised on the 22nd July 2016 that the Gibraltar Financial Services Commission (GFSC) have issued notice of direction to Enterprise Insurance Company PLC, (EIC) to cease entering into any new contracts of insurance in order to protect the interests of their existing policyholders.

We have been monitoring the situation and can now confirm the latest information. This is the effect to all Enterprise Insurance PLC polichyholders;

Enterprise are now in Default.

Currently, all policies remain valid. Enterprise motor insurance policyholders can still legally drive under these policies. However, at this stage, claims cannot be paid by Enterprise Insurance Company Plc.

The FSCS (Financial Services Compensation Scheme) released a statement late yesterday;

 “FSCS has declared Enterprise Insurance Company PLC in default, and is working closely with the liquidator, Frederick White, of Grant Thornton, and the Financial Services Commission in Gibraltar, where Enterprise is based, to establish the best way to help its policyholders. Enterprise is permitted to conduct business in the UK.

If FSCS establishes Enterprise cannot meet the cost of claims made against it, we will protect UK policyholders. In the case of motor insurance, this means the vehicle covered by the insurance policy must be registered in the UK. Policyholders must meet certain eligibility criteria.

FSCS protects UK policyholders who are individuals or small businesses with a turnover of less than £1 million. FSCS protects all policyholders for compulsory insurance only, e.g. the third-party cover under a motor policy.”

 

The levels of protection are set out on the FSCS website. A link to the page is;

http://www.fscs.org.uk/news/2016/july/enterprise-insurance-company-plc-now-in-default/

 

This is the very latest information currently available. We enclose the following links containing factual information so you may monitor the situation;

http://www.fca.org.uk/news/enterprise-insurance-company-indicates-it-is-insolvent

http://www.fsc.gi/fsc/EnterpriseStatement.htm

https://www.eigplc.com/index.php

 

A letter has been emailed or posted to all Enterprise policyholders. Please click on the below link for an example of this letter:

Example Letter

Further mandatory updates will be posted here.

We very much regret the inconvenience caused to you.