Catlin has agreed to honour unexpired policies
Lloyd’s insurer Catlin says managing general agency AccessBI, currently under investigation by the FCA, has been issuing policies with its name on but without its authority.
The insurer has issued a statement saying it has contacted brokers representing affected clients and has agreed to honour unexpired policies.
Insurance Times understands that the previous Catlin policies relating to care homes had expired at the end of 2012.
Catlin said: “It has been brought to Catlin’s attention that AccessBI has been issuing policies of insurance that named Catlin as an insurer but without Catlin’s authority.
“Catlin continues to investigate this with AccessBI and has advised the FCA.
“Catlin has contacted all brokers representing clients who have been issued with these policies.
“In keeping with Catlin’s reputation for high levels of services to customers and brokers, Catlin has agreed to honour the unexpired polices issued by AccessBI naming Catlin as the insurer.”
Giles and James Hallam are also among brokers who placed business through AccessBI and have been trying to find new cover for their clients.
Last week a letter from AccessBI, part of Access Risk Management Group, was sent to brokers telling them the MGA was being investigated by the FCA.
The MGA added it had closed its AccessBI insurance platform and its client accounts had been frozen until the investigation is complete. AccessBI was unavailable for comment.
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