The Financial Services Authority has issued guidance for policyholders of Independent Insurance which has suspended writing new business after it was placed in provisional liquidation.
The regulator advises policyholders to contact Independent and not the Policyholders' Protection Board.
Independent has set up a dedicated phone line for policyholders' enquiries - 0161 741 1010.
Policyholders, particularly those whose policies are not covered, or are only partially covered under the terms of the Policyholders Protection Act are advised by the FSA to contact their insurance broker about taking out new cover with another provider.
The FSA adds that for commercial customers of Independent, businesses will generally rank with other creditors of the insurer and will be paid in due course to the extent that funds are available.
Independent predominantly wrote liability business including public and employer's liability insurance and professional indemnity insurance, commercial property business and a small amount of personal lines cover, mainly through affinity, group or high net worth schemes.
