15th December 2016
Motorway Direct and NCI Roadside Assistance have transferred 206,000 Enterprise policies to new insurers with effect from 14 December. FSCS has been working with these brokers to secure alternative insurance cover for their customers since the collapse of Enterprise Insurance.
The transfer comes as Enterprise’s liquidator cancelled around 200,000 policies sold by Motorway Direct and a further 6,000 policies sold by NCI Roadside Assistance in the Gibraltarian courts yesterday.
The policies include GAP, motor warranty, and household electronic goods warranties. The brokers will contact their customers to advise them of the transfers in the coming days.
FSCS Chief Executive, Mark Neale, says “This is good news for many thousands of Enterprise customers. They no longer need to worry that they do not have insurance in place. And we’re continuing to work with other brokers to secure continuity of cover for their customers where this is possible. This is the best result possible for consumers.”
FSCS has come to the aid of more than 4.5m people while paying out £26bn since 2001. It has already returned millions of pounds to Enterprise customers after the company went bust.
The Scheme protects insurance, deposits, investments and mortgage broking.