Where do I stand? (Insurance)

[druid]

I got a letter today by registered post, worded to the effect that my Insurers underwriters are going into liquidation from effective from last Friday (1st) and that all cover ceased to exist on Friday. They say they have "secured alternative cover on the London market" so no gap in cover occurs. Which *I* have to pay for (Joy oh bloody joy). They will then pursue retrieving my premium from the liquidators....not bloody likely I'll see that again!

 

[spaniel]

Im surprised there isnt some sort of fund which covers this type of thing Druid, surely the insurance is in place so the underwriters have done their bit anyway??

Maybe Im confused!

 

[druid]

I'm confused too..the letter does say more info will follow though.

Basically it's the underwriters that have gone into liquidation. Not my insurance company. The insurance co. have got new cover for us but at *our* expense...our original premiums are lodged with the UW and will have to be audited by the liquidators...

Oh and letter says parameters of new cover will be forwarded...does this mean I may not have some of the stuff covered I did before ?? (Like hunting?)

 

[brighteyes]

And which UW might this be - goes into mini panic as got three insured!!!

 

[so03]

I had the same sort of thing happen with a car insurance. It took me nearly a year to get my money back, but I did get it back.

If they don't give you the same cover, could you ask them not to renew and get insurance from another company?

 

[druid]

Long german name begining with Ancora..think they only do Ireland and Germany though?