Cab drivers in London in a race to find insurance after the collapse of Danish unrated insurer Alpha
London cab drivers have been left without insurance and in upheaval after unrated insurer Alpha filed for bankruptcy.
Drivers received text messages this morning telling them their insurance had been cancelled and urging them to race to get alternative cover.
Alpha insured multiple taxi drivers, including drivers for Cover My Cab and Protector, City AM reports.
The London Taxi Drivers Association (LTDA) general secretary Steve McNamara told the London newspaper: “We have notified all of our members about this change, to ensure that no-one is unintentionally driving without insurance. We will be supporting any of our members that may have been affected.”
The LTDA tweeted this image of queues outside Protector earlier today:
Massive Queues outside Protector. We are awaiting responses from the ABI, the Danish FSA ( ALPHA were a Danish Company)
— The LTDA (@TheLTDA) May 9, 2018
Updates as soon as we have them! pic.twitter.com/TwTipUNXth
Alpha held a number of UK policyholders on its books through MGA Lima Agency.
All the insurer’s policyholders had their cover cancelled yesterday, leaving its customers scrambling for insurance.
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