Skip Navigation

Update - Enterprise Insurance PLC (29th July 2016)

29 July 2016

The Gibraltar Financial Services Commission (GFSC) have confirmed that the Gibraltar Supreme Court have appointed Mr Frederick White of Grant Thornton, as Provisional Liquidator for Enterprise Insurance Company PLC. The Liquidator has confirmed management of the Company’s affairs under the supervision of the GFSC.

Updates by the liquidator are announced on the Gibraltar Financial Services Commission website: http://www.fsc.gi/fsc/EnterpriseStatement.htm

Responses from the provisional liquidator to frequently asked questions are: https://www.eigplc.com/q_and_a.php

The UK Financial Services Compensation Scheme (FSCS) has now declared Enterprise Insurance Company PLC in default. This means that eligible claims will be covered by the FSCS.

For further information, please refer to the FSCS website:
http://www.fscs.org.uk/news/2016/july/enterprise-insurance-company-plc-now-in-default/

The FSCS response to frequently asked questions by policyholders are available at:
http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-about-enterprise-insurance-company-plc/#question0

Please note that the position regarding new and existing policies remains unchanged:

  • All policies remain valid. Enterprise motor insurance policyholders can still legally drive under these policies.
  • Midas can no longer accept any New Business and we are unable to make any alterations to or renew existing policies on the Performance and Classic Car schemes.
  • Enterprise will continue to process claims through its claims management agents.

We would draw to your attention to the recommendation by the Liquidator of Enterprise that policyholders contact their brokers to arrange alternative insurance cover. Please note that if a policy is cancelled by the policyholder, a refund of the premium on the uninsured period left on a policy may not be available (although the policyholder may be able to recover this loss under the Financial Services Compensation Scheme).

We very much regret this unfortunate situation and will keep you advised of any developments as they arise.

Further information can be found at the following links: