Unrated Danish insurer policies to be offered through Cover My Cab to cabbies after unrated Alpha went bust

Cover My Cab, the specialist insurance broker, has stepped in using unrated capacity to help with the continued chaos resulting in the collapse of unrated Alpha Insurance.

Cover My Cab has teamed up with unrated Danish insurer Gefion to provide duplicate policies to cab drivers who were insured with Alpha, and then left without cover when the Danish insurer filed for bankruptcy on 8 May.

On the company’s website, Cover My Cab said: “We have received over 20,000 calls, and in response to our customers’ needs, we have extended our opening hours to deal with the extremely high volume of calls, emails and visits to our branches.

“After 37 years in the insurance business, we have never been in an exceptional situation such as this and we really do care, so please be assured we are working hard to assist each and every individual customer as soon as we possibly can, whilst also working closely with the regulators.”

Alpha Insurance’s downfall was directly blamed on the liquidation of New Zealand-based insurer, CBL Insurance.

In a question and answer section of the page, Cover My Cab said it will “arrange like for like policies under an alternative insurance company, Gefion Insurance.”

Gefion is also a Danish insurer, but Cover My Cab reassures customers that the two companies are in no way related.

The broker says that those who have been affected by the collapse should get in contact as soon as possible.