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Statement on Quick-Sure Insurance Limited

23 Jan 20

Quick-Sure Insurance Limited (Quick-Sure) licensed on 26 February 2003 under the Financial Services (Insurance Companies) Act was authorised to write Class 1 (Accident), Class 2 (Sickness), Class 3 (Land vehicles), Class 7 (Goods in transit), Class 8 (Fire and natural forces), Class 9 (Damage to property), Class 10 (Motor vehicle liability), Class 13 (General liability), Class 16 (Miscellaneous financial loss), Class 17 (Legal expenses) and to carry out services in the United Kingdom, Ireland and Gibraltar. Quick-Sure provided motor insurance for private individuals in the United Kingdom and Ireland. 

On 31 March 2017 Quick-Sure Insurance Limited ceased writing new business and therefore the firm has no unexpired policies.  Since then, Quick-Sure has continued to settle claims.  In December 2019 Quick-Sure contacted the GFSC and advised that it had been unable to secure sufficient additional funding from shareholders to ensure all liabilities could be met. On 14 January 2020, the firm resolved to apply to be placed into administration, with Grant Jones and James Oton being appointed as the administrators. The GFSC did not object to the firm’s application for administration nor to the appointment of Mr Jones and Mr Oton as administrators. There are only circa 117 outstanding claims to be settled. 

The administrators were appointed on 23 January 2020 and will coordinate with the Financial Services Compensation Scheme (FSCS) in the United Kingdom to ensure that policyholders will continue to have all valid and eligible claims settled. The administrators will seek to ensure that there is minimal disruption and inconvenience to policyholders as a result of the company being placed into administration.  

Should you have any queries, please do not hesitate to contact the administrators at [email protected]  or the GFSC at [email protected].

Further information from the administrators will be available on the Quick-Sure website at: www.quicksure.gi