Overview
- Premier Insurance Company Limited was placed into administration on October 14 by the Supreme Court of Gibraltar, with Grant Thornton’s Freddie White and Bradley Chadwick appointed as joint administrators.
- The administrators formally terminated the remaining policies on December 1, leaving thousands needing immediate replacement cover.
- The FCA’s January 15 update confirms policies will not be renewed and urges affected motorists to arrange new insurance before their current cover ends.
- FSCS states it will protect eligible UK customers, including some small firms with turnover under £1m, and will consider claims under the terms of existing policies.
- Policyholders are directed to contact their broker or seek help via BIBA’s Find Insurance service or MoneyHelper, with reminders that driving uninsured is illegal and carries penalties.