I have my bikes insured with MCE.
I've been receiving a few emails lately saying that they were switching the underwriters, that for a little while they wouldn't have been able to give new quotes, etc.
Now:
Out of curiosity...
Are they going under regardless of what they say in these emails?
Or is it just normal procedures/moving companies around?
I've been receiving a few emails lately saying that they were switching the underwriters, that for a little while they wouldn't have been able to give new quotes, etc.
Now:
With effect from 19th November 2021, MCE Insurance Company Limited based in Gibraltar went into Administration. KROLL have been appointed to manage the run off of the business and have been appointed as the administrator for MCE Insurance Company Limited.
MCE Insurance Limited UK is not affected by this however, we are working hard to ensure all customers are regularly updated about this matter.
Has anything changed?
Your policy will continue to run as normal for the duration of your policy term. However, as part of the run off, KROLL has instructed that all claims payments should be paid via the Financial Services Compensation Scheme (FSCS) with effect from the 19th November 2021.
I’ve made a claim, what happens now?
MCE Insurance Limited UK will continue to log any new claims and manage existing ones and are working with KROLL to understand how claims payments can be made via the FSCS with the minimum inconvenience for policyholders.
Once we have a clearer picture of how this process works, we will update all policyholders.
I haven’t made a claim, what happens now?
Your policy will continue to run as normal for the duration of your policy term. Should you need to make a make a change, access your documents or contact us about anything in relation to your policy, you will still be able to do this up until your renewal date.
If you do need to make a claim, we can do this for you and will continue to manage the process throughout. We are working with KROLL to understand how claims payments can be made via the FSCS with the minimum inconvenience for policyholders. Once we have a clearer picture of how this process works, we will update all policyholders.
Out of curiosity...
Are they going under regardless of what they say in these emails?
Or is it just normal procedures/moving companies around?