MCE Insurance Company Ltd

21 Aug, 2023

All customers, please note that any uncashed cheques over 6 months old will expire by the end of August 2023. If you have a cheque still to pay in, please do so urgently.

If you do not believe you have received your cheque, please contact us via any of the methods on our Contact us page. 

If you are told by your bank you have an expired cheque, please also contact us.

19 Jul, 2023

The FCA has announced that MCE Insurance Ltd (FRN 307832) has entered administration.

Please note that MCE Insurance Ltd was an insurance broker and a different company to MCE Insurance Company Ltd (FRN 611321), which was the insurance provider that failed in November 2021.

Current insurance policies that MCE Insurance Ltd sold to its customers are underwritten by Sabre Insurance Group. Sabre is not affected by this administration and all existing policies remain in place.

FSCS can cover claims against insurance brokers, for example if they failed to properly arrange cover with an insurance provider for you.

We don’t currently expect there will be any need for FSCS to compensate customers who used MCE Insurance Ltd as a broker, but we will work with the Joint Administrators and provide further updates if this changes.

16 Feb, 2023

MCE UK and the administrators have now emailed the last batch of policyholders, those who are not due a return of premium, to confirm this £0 amount. If you have any queries related to this, please contact the Joint Administrators at complaints@gr123.gi. 

All customers who had their policies ended in 2022 have now been contacted.  

There are still a number of return of premium cheques that we posted out that have not been paid into customers’ accounts. Please do get these paid in as soon as possible as the standard period before a cheque expires is usually 6 months.  

22 Nov, 2022

MCE Insurance has now contacted the remaining customers owed return of premium money. All the amounts owed are £5 or less. If you're in this category, you will have received an email explaining the process.

We're asking for ID and proof of bank account details to ensure we pay compensation to the correct person. Please follow the instructions on the MCE email when supplying this information.

10 Oct, 2022

Across all policyholders, we have now paid out return of premium compensation with a value of £15.87m.  

In addition, we have now paid £32.29m in compensation for indemnity claims (claims against policies).  

12 Aug, 2022

Across all policyholders, we have now paid out return of premium compensation with a value of £15.7m.  

In addition, we have now paid more than £26.2m in compensation for indemnity claims (claims against policies).  

Currently, you don’t need to contact us.  

22 Jul, 2022

Some return of premium cheques that we posted have still not been paid into customers’ accounts. Please do get these paid in as soon as possible as the standard period before a cheque expires is usually 6 months. 

08 Jul, 2022

Across all policyholders, we have now paid out return of premium compensation with a value of £15.5m.  

In addition, we have now paid more than £20.4m in compensation for indemnity claims (claims against policies).  

Some return of premium cheques that we posted have still not been paid into customers’ accounts. Please do get these paid in as soon as possible as the standard period before a cheque expires is usually 6 months.

24 Jun, 2022

There are still many cheques that we posted that haven’t been paid in. 

If you’ve received your cheque but haven't paid it in yet, please do so. The cheques will expire after 6 months and some were sent out several months ago. 

You may be able to pay in the cheque using the banking app on your phone. Please make sure you follow the instructions from your bank carefully, and take a clear picture (front and back, even if it’s blank) with the full cheque in the frame. Please contact your bank if you’re having trouble - often you can do this directly within the app using the chat function. We won’t be able to help you with this. 

If you’re having any other issues paying in your cheque, we suggest you discuss this with bank staff in your local branch. 

If there’s an error on your cheque, please contact us via any of the methods on our Contact us page. 

10 Jun, 2022

Since our last update we’ve sent out 576 more return of premium cheques. 

We’ve now paid more than £14.5m in compensation for indemnity claims (claims against policies). We're aware of some customers experiencing delays involving claims for customer's vehicles, following the transfer of claims handling to GR123 Ltd. Their agents are currently undertaking a process to contact all affected customers to conclude these claims soon. For urgent follow-ups please email Complaints@gr123.gi. 

For the last groups of policyholders that we’re confirming address details with, when we email, please reply from the email address that your insurance policy was linked with/we sent our message to. If you reply from a different email address, we’ll need to contact you again to confirm your identity and this may delay your payment. 

For those who’ve shared ID documentation please note due to large volumes, it can take 4-8 weeks from receipt to process these and send payment. 

You don’t need to contact us currently. 

27 May, 2022

This week we have sent out a further 4,341 return of premium cheques. 

In addition, we have now paid more than £12.75m in compensation for claims against policies. 

We continue to reach out to the last small groups of policyholders to confirm address details, so we can send out cheques. Please look out for the email and action, you don’t need to contact us currently.

20 May, 2022

Today we’ll be contacting another group of policyholders to confirm address details, so we can send out cheques. Please look out for the email and action, you don’t need to contact us at this time. 

13 May, 2022

Indemnity claims - We’ve now paid more than £11.1m in compensation for claims against policies. 

Return of premium - If anyone is waiting to hear from us about their return of premium payment, please be assured we will contact you by email if we need more information. 

Also please note that we’re currently working through high volumes of changed address data and reissuing several hundred return of premium cheques related to name changes/amends. 

As we process the remaining policyholders where we have address and ID verification queries ongoing, due to the high volumes this may take longer than usual to process your return of premium payment. 

We’re unable to give an exact timescale, but please be assured that we are working as quickly as we can. You don’t need to contact us as we will contact you if we need anything. 

29 Apr, 2022

An additional small batch of cheques has just been sent out.  

We are also contacting policyholders where we are uncertain that the address details provided to us are correct, so as to be able to send out cheques. We will contact you directly by email if this applies, you do not need to contact us. 

20 Apr, 2022

Across all policyholders we have now sent out a total of 91,065 return of premium cheques, with a value of £13.92m. 

We are now working through the last few small batches, and we will contact you directly if we need anything, you do not need to contact us. 

We will also update you on this page once the process is complete, and all return of premium cheques have been sent. 

08 Apr, 2022

Since our last update on 30 March, we have sent out a further 31,267 return of premium cheques, which will arrive over the next few days. These are for car, van, motorbike and scooter policyholders and also include our first payments for customers who had mid-term adjustments on their policies.

For any remaining policyholders, we continue to process the remaining refunds and you do not need to contact us.

In addition to the return of premium cheques, we have now paid more than £8.3m in compensation for claims against policies.

30 Mar, 2022

We’re now starting to work on those policies that had a change or adjustment during their term (mid-term adjustments/MTAs). This might have been a change of vehicle, address, job, or vehicle modifications and may have incurred a charge from MCE when it was done.

As soon as we’re able, we’ll send return of premium cheques. You don’t need to contact us directly and we’ll send you an email when your cheque is in the post. 

25 Mar, 2022

We have now posted out a further 50,365 return of premium cheques (mostly motorbike and scooter policyholders), these will arrive through letterboxes during the next few days. 

We are aware that there are still car & van and motorbike & scooter policyholders who are waiting for their refunds. We will continue to process these, and you don't need to contact us currently.

Additionally, we have now paid more than £3.9m in compensation on claims against policies (indemnity claims). 

21 Mar, 2022

From Monday 21 March 2022 all indemnity claims (claims against policies) handling will transfer to new agents. 

All ongoing claims against insurance policies issued by MCE Insurance Ltd are being transferred to be handled by the Joint Administrators and their appointed agents replacing MCE UK from this date. 

You can see the full details in this copy of the email letter (pdf 0.2MB). 

Full details of your new contact points are listed in this email letter - you don't need to contact FSCS regarding this update. 

Return of premium payments continue to be processed as before. We are supplied customer data in batches and start sending out payments as soon as this has been processed.

11 Mar, 2022

The first batch (57,000) of motorbike and scooter policies are now going through the final verification stage to enable these cheques to be sent out. You don't need to do anything as we'll contact you if we need any other information. 

04 Mar, 2022

Since our last update, we have now posted 4,000 more return of premium cheques to car and van policy holders. 

We’ve also now paid more than £3.16m in compensation on claims against policies (indemnity claims). 

Next, we’ll be sending out return of premium cheques for bike and scooter policyholders and the last remaining car and van policyholders. If you’re waiting for a refund of your premium, or payment for a claim, you don’t need to contact us as these are being processed. 

02 Mar, 2022

A small number of compensation payments have been delayed due to customers submitting chargeback requests to the bank or credit card provider that they used to pay their premium to MCE. 

Please note: you can’t benefit from both a chargeback from your bank or credit card provider and return of premium compensation from FSCS. 

If you have not had a chargeback, we continue to work through the batches of customer data and are sending out compensation cheques accordingly. Your return of premium payment will be with you as soon as possible. 

Customers submitting chargeback requests to their bank or credit card provider, also waiting return of premiums paid by customers to MCE Insurance Company Ltd 

• FSCS is aware that some policyholders of MCE have submitted chargeback requests to their bank or credit card provider while also awaiting return of premiums paid by customers to MCE.  
• Customers who receive compensation from FSCS for their return of premium claim against MCE, but also receive some (or all) of their premiums refund after making a chargeback request to their bank or credit card provider, may be required to pay their compensation back to FSCS.  

What action is FSCS taking? 

FSCS is working with the appointed Joint Administrators, Andrew Stoneman and Geoff Bouchier of Kroll (Gibraltar), to identify customers who (i) are due a return of premium payment from FSCS and (ii) who have also submitted a chargeback request to their bank or credit card provider. However, it’s not been possible to identify every customer who has also submitted a chargeback request to their bank or credit card provider.  

• In cases where FSCS is aware that an eligible customer has submitted a chargeback request to their bank or credit card provider, FSCS will consider whether eligible customers are due any further return of premium compensation under our rules.   
• In cases where FSCS is not aware that an eligible customer has submitted a chargeback request to their bank or credit card provider and (i) the customer accepts compensation from FSCS and (ii) the customer also accepts some (or all) of the premiums back from MCE through a chargeback request, then FSCS may write to those customers seeking a return of some (or all) of the compensation paid by FSCS. This is because under the terms that customers accept payment of compensation from FSCS, customers may be liable to return to FSCS any compensation received by the customer from another source in respect of the same loss. 

What action should customers take?  

If you have submitted/do submit a chargeback request please notify FSCS at InsDefaultQueries@fscs.org.uk. 

25 Feb, 2022

We have now received the data we need for another 5,430 car and van policies. We'll use this to start making return of premium payments to these policyholders over the next few days.  

We're also expecting the first batch of motorbike and scooter policyholder data shortly.  We're aiming to issue return of premium cheques to this group of policyholders in the first half of March. 

You don’t need to contact us at this stage, as you’ll get an individual email from FSCS with an update when your payment is on its way. 

We’ll continue to post weekly updates on this page to share overall progress. 

18 Feb, 2022

If you’re waiting for a refund of your premium, or payment for a claim, you don’t need to call us. We’re waiting for data to come through so that we can post out the next batch of cheques, and we’re working closely with the Joint Administrators and MCE UK to make this happen as soon as possible.

Paying in cheques

We’ve had some calls from people who are paying in cheques using their banking apps. Please make sure you carefully follow the instructions from your bank, and take a clear picture (front and back, even if it’s blank) with the full cheque in the frame. You can contact your bank if you’re having trouble - often you can do this directly within the app using the chat function.

No claims bonus (NCB)

MCE UK has updated the FAQs on its website with updated information about NCBs: https://www.mceinsurance.com/content/disclaim-faq/. Please contact MCE UK via its live chat if you need to discuss your NCB as this isn’t something FSCS is able to help you with.

Indemnity claims

We’ve now paid more than £870,000 in compensation on claims against policies.

We’ll share another update by Friday 25 February at the latest.

10 Feb, 2022

FSCS has now sent an email to all policyholders to explain the process and advise on what happens next. Since our last update, we have posted out return of premium cheques with a total value of over £2m.   

Additionally, we have paid compensation of over £600,000 for indemnity claims (claims against policies). We continue to work hard to process payments as soon as possible over the coming weeks.

01 Feb, 2022

Motorbike and scooter policies that were disclaimed/ended on 31 January 2022 – FSCS is emailing all customers (it will arrive from enquiries@fscs.org.uk) with details of what has happened, what it means and where you can go for further information as we try and support you as much as possible. 

See a copy of the email (pdf 1.0MB). 

27 Jan, 2022

Car and van policies that were disclaimed/ended on 14 January 2022 - we are pleased to announce that the first batch of cheques is starting to be sent out to eligible policyholders. No action is required.  This group will also have received an email from FSCS this week with more information about the return of premium process. Batches will continue to be sent out frequently from now on. 

19 Jan, 2022

Car and van policies that were disclaimed/ended on 14th January 2022 - please note we've received the first batch of data and are now working on it. Those eligible who paid their premium upfront in full will be sent their return of premium first. We will then work through the remainder. We're working with the joint administrators to make return of premium payments as close to the date your policy ended as possible.

14 Jan, 2022

To further support you through this process, in addition to the information on this page, please note we have also added more information on the Q&A section (click the Q&A tab/drop-down menu above).

12 Jan, 2022

All motorbike and scooter policyholders – if you’ve had notice that your insurance policy will end, you will need to have alternative insurance in place before that date. Motor insurance is compulsory – it’s an offence to use your vehicle without it. 

You may wish to contact your broker MCE UK on info@mceinsurance.com or 01933 351361 to arrange alternative cover. If you’re unsure, talk to an insurance broker who specialises in motor insurance policies about replacement cover. You can find one via the British Insurance Brokers’ Association’s Find Insurance’ service, or call them on 0370 950 1790.

This site also contains useful information on insurance cover: www.moneyhelper.org.uk/en/everyday-money/insurance 

Read the letter (pdf 0.1MB) the Joint Administrators sent to all motorbike policyholders on 11 Jan 2022.

Return of premium payment 

If you are eligible, you will receive a cheque from FSCS, or we will contact you for more information as close to the policy cease date as possible.  

For claims relating to return of premium, the level of our protection is 90%. 

• This is calculated by the administrator when your policy cover ceases. 

• The refund is pro-rated, so the value will depend on how much time was left on the policy when your policy cover ceases. 

Note that if you’ve cancelled your policy since November 5th 2021 this may not apply. If you’re unsure, please contact your broker MCE UK. 

Please do not use the British Insurance Brokers’ Association’s service to ask about return of premium. 

For the latest information on the failure of MCE Insurance Company Ltd, sign up above for email updates. 

22 Dec, 2021

All car and van policyholders – if you’ve had notice that your insurance policy will end, you will need to have alternative insurance in place before that date. Motor insurance is compulsory – it’s an offence to use your vehicle without it. 

You may wish to contact your broker MCE UK to arrange alternative cover. If you’re unsure, talk to an insurance broker who specialises in motor insurance policies about replacement cover. You can find one via the British Insurance Brokers’ Association’s 'Find Insurance’ service, or call them on 0370 950 1790.

You can see the original Joint Administrators’ notification on the MCE website. 

Read the letter (pdf 0.1MB) the Joint Administrators sent to all car and van policyholders on 20 Dec 2021.

This site also contains useful information on insurance cover www.moneyhelper.org.uk/en/everyday-money/insurance 

Return of premium payment 

If you are eligible, you will receive a cheque from FSCS, or we will contact you for more information as close to the policy cease date as possible.  

For claims relating to return of premium, the level of our protection is 90%. 

• This is calculated by the administrator when your policy cover ceases. 
• The refund is pro-rated, so the value will depend on how much time was left on the policy when your policy cover ceases. 

 Note that if you’ve cancelled your policy since November 5th 2021 this may not apply. If you’re unsure, please contact your broker MCE UK. 

Please do not use the British Insurance Brokers’ Association’s service to ask about return of premium. 

For the latest information on the failure of MCE Insurance Company Ltd, sign up above for email updates. 

17 Dec, 2021

Please note that MCE Insurance Company Ltd is now known as Green Realisations 123 Limited, (in Administration).

For more information on failed insurance companies and what happens visit our Failed Insurance Companies - what happens next? page.

To understand more about the different parties involved visit our Who's involved? page.

FSCS and the Joint Administrators will keep policyholders up to date at each stage, most likely by email.