Taxi Driver Online

Taxi centre said 2 or 3 insurers were onboard prepared to take on the Enterprise policies FOC (scooping up 1000's of customers) but also some were taking a new policy out

sounds like a bit of spin to me I'm sure other insurers will offer renewals to Enterprise customers but taking on the risk FOC never heard of insurance companies being that charitable

Enterprise Insurance Company PLC now in default
28th July 2016

FSCS has declared Enterprise Insurance Company PLC in default, and is working closely with the liquidator, Frederick White, of Grant Thornton, and the Financial Services Commission in Gibraltar, where Enterprise is based, to establish the best way to help its policyholders. Enterprise is permitted to conduct business in the UK.

If FSCS establishes Enterprise cannot meet the cost of claims made against it, we will protect UK policyholders. In the case of motor insurance, this means the vehicle covered by the insurance policy must be registered in the UK. Policyholders must meet certain eligibility criteria.

FSCS protects UK policyholders who are individuals or small businesses with a turnover of less than £1 million. FSCS protects all policyholders for compulsory insurance only, e.g. the third-party cover under a motor policy.

Levels of Protection

Compulsory Insurance – Third-party cover under a motor policy.

FSCS protects compulsory insurance at 100%.

Non-Compulsory Insurance

FSCS protects the personal accident section of the policy at 100%.

FSCS protects all other types of non-compulsory insurance at 90%, e.g. accidental damage to own vehicle, except for small businesses with a turnover of £1million or more.

Limits of FSCS protection

FSCS compensation is subject to the limits that apply under the terms of the policy.

Other Types of Insurance Policies

After-the-Event Insurance

FSCS protects private individuals and small businesses with a turnover of less than £1million. Protection is at 90%.

Guaranteed Auto Protection - GAP - Policyholders

FSCS protects private individuals and small businesses with a turnover of less than £1million. Protection is at 90%.

Professional Indemnity Policyholders

FSCS protects individuals and small businesses with a turnover of less than £1million. Protection is at 100%.

Financial Loss Warranty Contracts

FSCS protects individuals and small businesses with a turnover of less than £1million. Protection is at 90%.

It seems that The FSCS will cover up to 90% of any non compulsory cover. Not sure of the ins and outs of this but reading this it seems less of a blow than first thought.

i got the letter, phoned them up, my ins runs out in april , they will contact me in march with a suitable replacement, only stipulation is i cant alter my ins at all now, so cant change cars on that policy, add a mate etc ... no problem, don't know what all the bed wetting off you lot is about tbh