Cars in the street

The Financial Services Compensation Scheme (FSCS) is in discussions with the Gibraltar Financial Services Commission (FSC) over what the failure of Enterprise Insurance means for UK policyholders.

The FSCS has also said it expects to work Enterprise’s provisional liquidator once one has been appointed.

Last Friday it was announced that Gibraltar’s Financial Services Commission (FSC) had ordered Enterprise Insurance Company to stop writing new insurance contracts immediately after the insurer advised it that it was insolvent and was unable to secure additional funding.

The FSC is working with Enterprise to issue winding up proceedings and is making an application to appoint a provisional liquidator.

The FSCS says it will make a further announcement to update customers of Enterprise as soon as it has more information.

Motor insurers are going to be heavily affected by the insurer’s collapse.

Over the weekend it was reported that Zurich-owned underwriting agency Wrightway Underwriting which wrote business on behalf of collapsed insurer Enterprise has said it will refund outstanding premiums after 14,000 Irish motorists were hit by the insurer’s failure, according to reports.

 

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

Topics