Taxi Driver Online

taxi centre insurance (aka Milestone) use Enterprise

anyone heard anything?

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Of all the things ive lost, i miss my mind the most

If you were insured through them you should have had a letter

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lack of modern legislation is the iceberg sinking the titanic of the transport sector

My policy is with enterprise. I have not heard anything.

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Grandad,

had a reply from Milestone/taxi centre

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Of all the things ive lost, i miss my mind the most

Enterprise Insurance Company PLC (the Company) would like to inform its policy holders that it has requested the Gibraltar Financial Services Commission (GFSC) to suspend its authorisation to write new insurance business. As part of this request, the GFSC has also issued a Direction to preserve the assets of the Company.

Enterprise has been under close supervision from the GFSC due to concerns about Enterprise’s financial position. Very recently Enterprise provided the GFSC with an independent assessment of its financial position. This assessment demonstrated a significant deterioration in the Company’s position and that Enterprise is insolvent.

The shareholders of the Company have been unable to contribute additional capital into the company, and in the interests of policyholder protection the Company has requested that the Commission takes steps to control the activities of the Company including issuing winding-up proceedings.

The GFSC is now taking steps to issue winding up proceedings with the cooperation of Enterprise to present a petition for the winding up of the Company. It is the intention to issue an application for the appointment of a provisional liquidator.

The GFSC is taking appropriate steps to protect policyholders. The GFSC is notifying the European Insurance and Occupational Pensions Authority (EIOPA), and the relevant financial services regulators and compensation schemes in France, Italy, Greece, Norway, Ireland and the UK, where Enterprise has written business.

Enterprise is committed to keeping its policy holders as informed as possible in these difficult circumstances.

For further information, please see the GFSC’s website.

You can email us on info@eigplc.com or call us on 00350 200 50150

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Of all the things ive lost, i miss my mind the most

An Irish insurance underwriting agency that wrote business on behalf of Enterprise Insurance, the Gibraltar-based insurer that ceased trading on Friday, said it would refund outstanding premiums as 14,000 Irish motorists were hit by the collapse.


Wexford-based Wrightway Underwriting entered into an agreement with Enterprise Insurance in 2014 to offer motor insurance in Ireland through the Irish company’s broker network. Wrightway is ultimately owned by Zurich Insurance.
it said in a statement on Sunday.

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Of all the things ive lost, i miss my mind the most

A casualty of a collapse in the pound following Brexit vote ?

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lack of modern legislation is the iceberg sinking the titanic of the transport sector

no......long term problem....FFS Brexit was only a few weeks ago

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Of all the things ive lost, i miss my mind the most

I have just spoken to our broker. We are still insured but enterprise are not taking on any new business.
Lets hope I don't have to make a claim before my renewal just in case.

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Grandad,

Is this company one of those who quoted cheap policies?

If it is it has brought the problems of lack of financial backing upon its own head,claims were probably out stripping income and underwriters were not prepared to put more in.

Companies who quote cheap premiums unless they have a large surplus from other types of insurance are asking for trouble.

I had 3 quotes all within £20 of each other, i chose this one....

I can see all premiums going up now, this was what happened a few years ago when an Irish based taxi insurer went under, less competition so no need to be cheap

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Of all the things ive lost, i miss my mind the most

The Gibraltar Financial Services Commission states company is insolvent and that it intends to appoint a liquidator.


The Gibraltar Financial Services Commission (GFSC) has directed Gibraltar-based insurer Enterprise Insurance Company to immediately cease issuing new insurance policies.

The GFSC stated that this means that it had also issued directions prohibiting Enterprise from making any payments unless authorised by the GFSC, in order to protect the assets of the insurer.

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Of all the things ive lost, i miss my mind the most

so dont go claiming

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Of all the things ive lost, i miss my mind the most

I know, it's like a five year mission.

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IDFIMH

You'll be covered by the MIB won't you?