Broker CRL had found a replacement insurer to take on almost 30,000 Alpha policies, but the potential suitor has raised “several last-minute issues” that are holding up a deal.
More than 30,000 property policyholders affected by the collapse of Alpha have been thrown a lifeline in the form of alternative cover arranged by the Financial Services Compensation Scheme.
This week the best and brightest in the insurance community gathered in the Royal Albert Hall for the 25th British Insurance Awards.
The Danish Financial Supervisory Authority has ordered Gefion to not expand into new territories.
Premium finance providers Premfina and Close Brothers will continue funding Gefion premiums following the unrated insurer’s tussles with the Danish regulator, as Premium Credit pulls out.
CRL is making “good progress” in talks to move its Alpha policyholders over to another insurer and has seen its deadline pushed back.
The government has promised to review the application of the Insurance Premium Tax. But does the planned review go far enough?
The Danish Financial Supervisory Authority has pegged Gefion’s solvency ratio as just 105% at May 2019, rather than the 130% the company has claimed.
The FSCS was forced to raise a supplementary £14m levy in January to cover the cost of the collapse of Alpha Insurance, according to its annual report.
The Financial Services Compensation Scheme has today made its first payments to policyholders affected by the collapse of Lamp Insurance.
BCR Legal Group appointed representative CRL failed to find an insurer to take on its Alpha policies by the May deadline set by the Financial Services Compensation Scheme, but it has been given more time as the firm has a replacement in its sights.
Marc van der Veer has joined Nexus Group as CEO of European Ventures.
Quest Group has been appointed to manage claims for policyholders of failed Lamp Insurance.
Exclusive: Danish unrated insurer Gefion took out a further chunk of reinsurance and injected capital, after its solvency ratio plummeted to 72% in 2018.
The Financial Services Compensation Scheme will protect customers of Lamp Insurance following the unrated insurer’s demise.
Creditors of CBL Corporation, the parent company of CBL Insurance, are expected to be owed in excess of £90m.
Insolvent unrated insurer Lamp has been placed into liquidation following a court hearing today.
It might be the name, but this week I’ve spotted some similarities between Gibraltarian unrated insurer-facing-liquidation Lamp Insurance and an angler fish, sparking some strange and slippery debate in the office.
Exclusive: Now 4 Cover is looking to relocate policies of 13,500 of its customers, following Lamp’s descent into insolvency.
The Financial Services Compensation Scheme is the process of paying out £6.9m in premium refunds to 9000 taxi drivers that were covered by collapsed unrated Danish insurer Alpha.
Hogarth Underwriting is to be wound up and its creditors stand to lose money, according to the final administration report.
The New Zealand high court has placed CBL Corporation into liquidation.
The Financial Services Compensation Scheme has revealed that its levy for 2019/20 will be £532m over a twelve month period, £16m more than planned, with general insurers paying an extra £1m than anticipated.
Managing general agent Iprism's latest accounts show profits dived and tens of millions of pounds was wiped off the valuation of the company, following the demise of former unrated insurer partner Gable.