Communication from the Liquidator of Enterprise Insurance Company plc on 18th January 2017

I was appointed liquidator of Enterprise Insurance Company Plc (“the Company”) by Order of the Supreme Court of Gibraltar dated 26th October 2016 (“the Order”). 

A copy of the Order is included on this website. The Order was made following an application to the Supreme Court of Gibraltar by the Gibraltar Financial Services Commission (“GFSC”) on the grounds that the Company is insolvent. 

The GFSC has determined under section 150(1) of the Financial Services (Insurance Companies) (Solvency II Directive) Act that the opening up of winding up proceedings commenced with effect from the date of the Order namely 26th October 2016 and has taken necessary steps to inform the supervisory authorities of all Member States of its decision to open up winding up proceedings in accordance with section 157(1). 

Consequent on the decision by the GFSC to open up winding up proceedings, the authorisation of the Company as an insurer has been withdrawn in accordance with the provisions of section 156(1) of the Financial Services (Insurance Companies) (Solvency II Directive) Act and the procedure laid down by section 106 of the Insurance Companies Act (as amended). 

Under section 156(2) and 156(3) of the Financial Services (Insurance Companies) (Solvency II Directive) Act, I am permitted to pursue activities of the insurance undertaking so far as is necessary or appropriate for the purpose of the winding up provided that any such activities are pursued with the consent and under the supervision of the GFSC.

I have written to all policyholders to notify them of the commencement of winding up proceedings and provide them with the information required by Section 158 of the Financial Services (Insurance Companies) Solvency II Directive) Act. A copy of that letter and notice is included on this website.

I am also writing to all known creditors of the Company and a copy of that letter is also included on this website.

Given the nature and circumstances of the liquidation and the assets and liabilities of the company, I consider it is not practical or necessary for a first meeting of creditors to be held.  I am not therefore proposing to call a first meeting of creditors in accordance with section 174 of the Insolvency Act.  Given the circumstances, the Court has also dispensed with the requirement for me to send out claim forms to creditors at this juncture.  There is therefore currently no time limit for the filing of claims in the liquidation by creditors.  Notice of my decision not to hold a meeting under section 174 is to be published on the Company website and advertised in the Gibraltar Gazette in accordance with the Order. The notice of my decision is included on this website.

I will continue to administer and adjudicate on claims arising from insurance policies underwritten by the Company to establish the claims and quantum of such claims that may properly be admitted as insurance claims in the liquidation.

I am in contact with the compensation schemes in the various countries in which Enterprise wrote business to coordinate with them the processes by which eligible claims may be paid from the schemes. I will update this website with further information regarding these processes as it becomes available.

I am making arrangements for claims managers to continue to administer, process and agree the residual claims for admission as insurance claims and for submission to compensation schemes as applicable. Policyholders should continue to notify claims in accordance with the details set out in their policy documents or as per the instructions included on this website.

Disclaimer of Policies

I have disclaimed all and any motor insurance contracts issued in the United Kingdom, Republic of Ireland, France, Italy and Greece under which the Company is an insurer with effect from 0:00 Hours on 27th October 2016.

I have also disclaimed all and any teacher absence contracts issued in the United Kingdom under which the Company is an insurer with effect from 0:00 Hours on 27th October 2016.

On 14th December 2016 I disclaimed all contracts placed by the broker Motorway Direct plc with the Company as insurer. Motorway Direct plc has arranged alternative cover for its clients and will have written to them regarding this.

On 14th December I also disclaimed all contracts placed by the broker NCI Vehicle Rescue plc with the Company as insurer. NCI Vehicle Rescue plc has arranged alternative cover for its clients and will have written to them regarding this.

On 3rd January 2017 I disclaimed all furniture care insurance policies for 2 or 3 year structural defect and accidental damage cover placed by the broker Kainos Associates LLP with the Company as insurer. Kainos Associates LLP has arranged alternative cover for its clients and will have written to them regarding this.

Copies of the Notices of Disclaimer sealed by the Supreme Court of Gibraltar are included on this website.

The disclaimer does not affect claims which have arisen under a contract of insurance underwritten by the Company prior to the date of disclaimer. Following the disclaimer claims cannot be made under a disclaimed policy.

Any queries from policy holders or others may be directed to info@eigplc.com

 or by telephone at number +350 200 50150

United Kingdom Policyholders

All motor insurance policyholders with claims arising should notify such claims to Gallagher Bassett at the address below:

Gallagher Bassett International Limited
PO Box 21522
Stirling
FK7 7ZG
Email: uk.enterprise.claims@gbtpa.com
Tel: 01786 455870

Non motor insurance policyholders with claims arising should report such claims in accordance with the instructions included in their policy documents.

The Financial Services Compensation Scheme (“FSCS”) has worked closely with me to facilitate the process whereby eligible policyholders may claim upon the compensation scheme

Information regarding the Financial Services Compensation Scheme may be obtained at the FSCS website  www.fscs.org.uk

Italian Policyholders

I will work closely with the Italian Guarantee Fund (Fondo di Garanzia per le Vittime della Strada) to establish the eligible claims under motor insurance policies that will be managed through Italian insurance undertakings expressly appointed.

For claims before 27 October 2016, please contact the Fondo di Garanzia per le Vittime della Strada through its website here:

http://rimborsodelsinistro.consap.it/fondi-e-attivita/mondo-assicurativo/fondo-di-garanzia-per-le-vittime-della-strada/ipotesi-c

For claims from 27 October 2016, please contact the Fondo di Garanzia per le Vittime della Strada through its website here:

http://rimborsodelsinistro.consap.it/fondi-e-attivita/mondo-assicurativo/fondo-di-garanzia-per-le-vittime-della-strada/ipotesi-b

Policyholders in France, Greece and the Republic of Ireland

I am currently confirming arrangements for the management of claims in the remaining countries in which the Company underwrote insurance policies as well as establishing the processes by which claims may be submitted to the relevant compensation schemes. I will include the directions for submission of claims on this website as soon as they are available.  In the interim all policyholders with claims arising should continue to notify such claims in accordance with the contact details set out in their policy documents.

I will also include any notifications to policyholders or creditors on this website in the respective language.

Disclaimer

On 11th January 2017 I disclaimed the claims administration and service agreement entered into between the Company and Claims Consulting Solutions Limited dated 25th September 2015.

A copy of the Notice of Disclaimer sealed by the Supreme Court of Gibraltar is included on this website.

Frederick White
Liquidator
Enterprise Insurance Company plc

 

You can find answers to the most common questions or ask us a specific question in Q & A section.

Order of the Supreme Court of Gibraltar of 26.10.16

Letter to Creditors

Notice to Creditors Dispensing with First Meeting 4.11.16

Notice of Disclaimer Teacher Absence Policies

NOTICE FROM THE LIQUIDATOR TO IBG (Insurance Backed Guarantee) POLICYHOLDERS & CONSUMERS

Dec 14, 2016 - NCI Vehicle Rescue Plc - Stamped and sealed Disclaimer

Dec 14, 2016 - Motorway Direct Plc - Stamped and sealed Disclaimer

Dec 22, 2016 - Preliminary Report of the Liquidator

Jan 3, 2017 - NOTICE OF DISCLAIMER KAINOS ASSOCIATES LLP

Jan 11, 2017 - CCSL Disclaimer


Notice of Disclaimer: 
Notifying letter to policyholders: 
Notification of Winding Up Order: