Statements
< BackStatement on Enterprise Insurance Company PLC
14 Aug 17
Liquidator's First Report Progress - 14th August 2017
Available here.
Communication from the Liquidator of Enterprise on 17th July 2017
Available here.
Communication from the Liquidator of Enterprise to all policyholders and householders/consumers protected by insurance backed guarantee policies underwritten by Enterprise
Available here.
GFSC update on Enterprise Insurance Company plc, Thursday 4th November 2016
On 26 October 2016 the Supreme Court of Gibraltar appointed Mr Freddie White as Liquidator of Enterprise Insurance Company plc. At the hearing the Court considered the report of Mr White in his capacity as Provisional Liquidator and noted his findings that the company is insolvent and his recommendation that a Liquidator be appointed.
At the request of the Court, the GFSC agreed not to publish the Provisional Liquidator’s report for a period of 7 days in order to allow the directors the opportunity to consider the report. Following a further hearing before the Court on 3 November 2016, the report can now be published.
A copy of the Provisional Liquidator’s Report can be found here.
Communication from the Liquidator of Enterprise Insurance Company plc on 27th October 2016
A communication from the Liquidator of Enterprise Insurance Company plc can be found here.
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 insurance claims and whether these will be admitted as claims in the liquidation.
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.
A copy of the court order can be found here.
Following the decision of the Supreme Court of Gibraltar to appoint a liquidator, the GFSC has today, 26 October 2016, issued a direction that Enterprise Insurance Company plc cease to be authorised to carry on insurance business. The direction was given pursuant to section 156(1) of the Financial Services (Insurance Companies) (Solvency II Directive) Act and section 106(1) of the Financial Services (Insurance Companies) Act. The direction does not prevent the liquidator from undertaking activities necessary or appropriate for the purposes of winding up the business, which he will do with the consent and under the supervision of the GFSC. The withdrawal of authorisation is effective as of 26 October 2016.
Updated Q&A
This morning, the Provisional Liquidator issued his report to the Supreme Court of Gibraltar, and has now been appointed as Liquidator of Enterprise Insurance Company plc. All references to Provisional Liquidator should now be read as references to the Liquidator.
Enterprise is now in liquidation. Liquidation is the process of bringing a business to an end when a company is insolvent.
The Liquidator continues to work with the Enterprise staff and claims operations to ensure that the insurance business continues to operate. This includes managing and processing all claims; this applies to claims arising in each of the countries that Enterprise operates in.
The Liquidator has now disclaimed all Enterprise motor insurance and teacher absence policies. Teacher absence policies ensure that, in the event of an unexpected sickness or absence, the school is covered.
Disclaimer is a technical term used in insolvency situations; it means that the Liquidator is terminating the contracts or policies of insurance. The Liquidator is entitled to do this under insolvency law.
As all motor insurance policies are no longer valid, we urge policy holders to seek new insurance cover by contacting their brokers (the people who arranged your insurance) for assistance.
It is the Liquidator’s intention to disclaim other types of policies at a later date.
Your motor insurance policy is no longer valid. It is no longer lawful for you to drive as to do so is to drive without insurance. You should immediately contact your insurance broker or an insurer directly to seek alternative insurance cover.
There is the practical problem that claims for any accidents that you have had before 26 October will not be paid to you by Enterprise at this stage. Claims may be met under any compensation scheme that applies in your country. The claims are dealt with according to your country’s compensation scheme rules.
In countries other than the UK, compensation schemes cover third party liability only. Third party liability coverage is a type of insurance that provides cover when a policyholder or insured driver is responsible for a car accident and causes injuries, death or property damage.
Your Enterprise insurance policy may cover you for more than third party liability. The claims for costs that are not covered by third party compensation, and that can be claimed under your policy, may still be claimed from Enterprise. It is not clear at this stage how much of the claim will be met. The amount of any payment that may be made some time in the future will depend on the amount of resources Enterprise has. This will be determined as part of the liquidation process.
If you are unsure as to whether you are insured by Enterprise you are urged to contact your broker for advice. Contact details for brokers are available here.
If you have a claim because of an accident that happened before 26 October under your Enterprise policy you should contact the company or person using the claims number in your policy. Claims for any accident that happens after 26 October will not be accepted.
Claims made after the 26 October 2016 for an accident that happened before 26 October will be accepted and processed.
The processes involved will be different in each country:
In the UK motor claims will be processed by Claims Consulting Solutions Limited and dealt with by the Financial Services Compensation Scheme (FSCS).
In France, the claims will be processed by Eurodommage.
In Greece, the claims will be processed by Enterprise Hellas.
In Ireland, the claims will be processed by Wrightway Underwriting Limited.
If you are a policyholder in Italy we will be providing further information shortly. In the interim if you have a claim please contact the Liquidator directly through the Enterprise website here.
For further information and contact details, refer to the section below 'if you are a policy holder in...'
If your policy is disclaimed you may have a claim and it will be processed as any claim for an accident. You should contact the company or person set out in your policy through the claims number in your policy.
If you cancelled your policy you may be entitled to return of premium under the terms of your policy.
If you are a policy holder in UK
In the UK motor claims will continue to be processed by Claims Consulting Solutions Limited (CCSL) and dealt with by the Financial Services Compensation Scheme (FSCS).
The FSCS is processing claims for return of premium. It has indicated its approach to these claims, including credit finance here.
You should continue to notify your claims using the contact details set out in your policy.
All motor insurance policyholders with claims arising should notify such claims to Gallagher Bassett at the address below::
Gallagher Bassett International Limited
PO Box 21522
Stirling
FK7 7ZG
Telephone: +44 01786 455870
Email: uk.enterprise.claims@gbtpa.com
Motorway Direct PLC will continue to process claims for the following classes of business:
GAP Insurance
Motor Warranty
Brown and White Goods Warranty
Motorway Direct PLC contact details are:
Telephone: +44 3300 555 262
Email: Customerservices@motorwaydirect.co.uk
The Liquidator will be working with the claims managers of these and other business classes with the FSCS.
There is detailed information on the FSCS’ website about compensation limits for insurance claims.
If you are a policy holder in Ireland
The Liquidator will work with the Motor Insurance Bureau Ireland and the Insurance Compensation Fund.
Enterprise’s agent in Ireland, Wrightway Underwriting Ltd, has said that it has told brokers to make an ex-gratia payment to affected policyholders. This payment will be equal to the value of the premium from cancellation until the end of the current policy contract. If you are a customer of Enterprise, you should discuss this with your broker.
If you have a claim, please contact Wrightway Underwriting Ltd at:
Wrightway Underwriting Ltd
Limekiln House
Drinagh
Co. Wexford
Ireland
Telephone: +353 53 91 67184
Email: claims@wrightway.ie or firstnotifications@wrightway.ie
Please follow this link for an update from the Central Bank of Ireland on Enterprise Insurance Company plc, including a Q&A for consumers.
If you are a policy holder in Italy
The Liquidator will work closely with the Italian Guarantee Fund (Fondo di Garanzia per le Vittime della Strada) to establish the eligible claims under motor insurance policies that will be managed through Italian insurance undertakings expressly appointed.
Claims for accidents that happened before 27 October 2016, please contact the Fondo di Garanzia per le Vittime della Strada through its website here:
Claims for accidents that happened after 27 October 2016, please contact the Fondo di Garanzia per le Vittime della Strada through its website here:
If you are a policy holder in Norway
Norway does not have a compensation scheme.
The Liquidator is liaising with Finanstilsynet, the Financial Supervisory Authority of Norway.
If you are a policy holder in Greece
The Liquidator is working with the Fund Insurance of Liability Arising out of Motor Accidents in Greece. You can notify your claim to the person or company in your policy. Alternatively you can contact Enterprise Hellas at:
ENTERPRISE HELLAS INSURANCE & REINSURANCE BROKERS S.A. (or "ENTERPRISE HELLAS S.A.")
364 Messogion Avenue
15341, Athens, Greece
Tel.: +30 211 1036500 Fax: +30 211 1036550
Email: claims@enterprisehellas.gr
Claims for accidents that happened before 26 October will be processed and submitted to the Auxiliary Fund. The Auxiliary Fund will meet all third party losses.
We will post more information when available.
If you are a policy holder in France
Please read the notice from the FGAO here.
The FGAO has made preparations to cover, where applicable, property damage and bodily injury caused to third parties.
All claims should be sent to the representative of Enterprise for France, and they will forward these claims to FGAO:
Eurodommages
9 rue Pierre et Marie Curie
CS 80224
33525 Bruges Cedex
France
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.
If you have any queries, please direct these to the Provisional Liquidator at info@eigplc.com or 00350 200 50150.
Please scroll down to see further information for policyholders and our Q&A
The GFSC has issued a warning against Enterprise Insurance Claim website – DFM Services Limited. Please read it by clicking here.
Enterprise Insurance Broker Contacts.
Court order for the appointment of a Provisional Liquidator
Warning from the Provisional Liquidator to United Kingdom Policyholders
It has been brought to my attention that fraudsters may be attempting to contact Enterprise policyholders in the United Kingdom, pretending to represent the Financial Services Compensation Scheme (“FSCS”) and requesting a payment of £300.00 to be made as an administration fee for processing their claim with the compensation scheme.
Please be advised that no fees or other costs are payable by a policyholder to enable them to apply for compensation from the FSCS. As part of the provisional liquidation process, I have put arrangements in place whereby eligible policyholders’ information is processed and passed to the FSCS by Claims Consulting Services Ltd in relation to United Kingdom policyholder motor claims and by Quest Consulting Ltd for all other United Kingdom policyholder claims.
If a policyholder has any queries regarding the FSCS application process please contact Paul Hafner of Quest Consulting on PHafner@quest-group.co.uk.
Communication from the Provisional Liquidator of Enterprise Insurance Company plc on 31st 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 HoldersAll 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.ukThe 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.ukI 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.
All PolicyholdersEnterprise insurance policies were distributed via a network of brokers in the United Kingdom, Republic of Ireland, France, Italy, Greece and Norway. Contact details of policy holders are held by brokers. I have written to brokers requesting them to pass on a notice from me as Provisional Liquidator to all policy holders. These notices are included on this website in the language of the country of the policyholders. Circumstances relating to the operation of compensation schemes differ in the various countries and policyholders should ensure they read the notice addressed to the policyholders of their respective country.
Frederick White
Provisional Liquidator
Enterprise Insurance Company plc
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.ukThe 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.ukI 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
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.
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.
You can find answers to the most common questions, or you can ask us a specific question by clicking here: Q & A section.
Alternatively you can email us on info@eigplc.com or call us on 00350 200 50150
Wednesday 27th July, 2016 - Update on Enterprise Insurance Company Plc
The Gibraltar Financial Services Commission (GFSC) continues to take steps to manage the failure of Enterprise Insurance Company PLC (‘Enterprise’ or the ‘Company’).
On Monday the GFSC issued court proceedings to have the Company managed by an independent and skilled insolvency specialist, and the Gibraltar Supreme Court appointed Mr Frederick White as Provisional Liquidator.
The Provisional Liquidator will explore options for transfer of policies, protection of assets and any other steps that can best protect the position of policyholders, including the continued processing of claims and continued validity of policies. The Provisional Liquidator is required to report back to the court within 3 months.
Mr White will now be managing the Company’s affairs under the supervision of the GFSC. He will be working with the Enterprise staff and claims operations to ensure that the insurance business continues to operate. This includes managing and processing all claims; this applies to claims arising in each of the countries that Enterprise operates in.
Mr White will be contacting all policyholders to notify them of his appointment and what happens now. He will be talking directly to each of Enterprise’s brokers over the course of this week.
Whilst claims will be processed, Enterprise is not able to pay any claims at this stage. In those countries where compensation schemes operate, claims will be considered by those schemes.
Peter Taylor, Director of Legal, Enforcement and Policy said: “The Company cannot make any payments under an Enterprise insurance policy, whether motor insurance or otherwise. The positions will be managed with the different compensation schemes that apply. We reiterate that all policies remain valid. Enterprise motor insurance policyholders can still legally drive under these policies. If an accident occurs and a claim is made, Enterprise cannot make any payment against that claim at this stage. We are working with our fellow European regulators and the various compensation bodies to ensure that policyholders’ interests are looked after”.
Enterprise will continue to process claims through its claims management agents. Mr White will be taking steps to ensure that Enterprise’s assets are secured and available to meet policyholders’ claims. We will do what we can to minimise any impact on the insurance compensation schemes that operate in the various countries involved.
Policyholders and brokers can now access further information and contact details through the Enterprise website. This is now managed and operated through Mr White as Provisional Liquidator.
You can contact Enterprise Insurance at info@eigplc.com
Date: Friday 22nd July, 2016
On 22nd July 2016 the Gibraltar Financial Services Commission (the Commission) has issued directions under Section 105 of the Financial Services (Insurance Companies) Act (the Act), directing Enterprise Insurance Company PLC (Enterprise or the Company) to immediately cease effecting new contracts of insurance. This means that the Company is not authorised to issue any new insurance policies.
The Commission also issued certain directions under Section 100 of the Act including prohibiting Enterprise from making any payments unless previously authorised by the Commission, in order to protect the assets of Enterprise.
The Commission is now taking steps to issue winding up proceedings with the cooperation of Enterprise to present a petition for the winding-up of the Company. It is the intention to issue an application for the appointment of a provisional liquidator.
The Commission is taking this action as Enterprise has advised the Commission the Company is insolvent and has not been able to secure additional funding.
The Commission is taking appropriate steps to protect policyholders. The Commission is notifying the European Insurance and Occupational Pensions Authority, and the relevant financial services regulators and compensation schemes in France, Greece, Italy, Norway, Ireland and the UK, where Enterprise issued motor vehicle and other insurance policies.