LAMP is insolvent (underwriter for now4cover)

Harvin1975

Anyone got the latest given 31st May was meant to be a big day for Lamp and Now4Cover?

kubilay123

This is on their website today:
The outcome of the hearing today (31st May 2019), by Order of the Supreme Court of Gibraltar the Official Receiver has been appointed as Liquidator of LAMP Insurance Company Limited (LAMP).

The Official Receiver has engaged the services of Grant Thornton Limited, PO Box 64, 6A Queensway, Gibraltar, as agent, to advise and assist on matters relating to the operation and conduct of the liquidation.

Any enquiries in relation to LAMP or the liquidation should be directed to:
lampinsurance@gi.gt.com

Further to the notification about Lamp, here are our most frequently asked questions. We will of course be updating our website when we have more information.

anonmum

hi,

It is now possible to cancel insurance policies with now4cover/lamp on their website in case anyone wants to.


anonmum

Roger_Peney

For those unfortunates (myself included) stuck in the midst of a claim, the claim handling has now been passed to yet another third party (mine started with Williams Pitt, then to Evolution Claims). According to the GFCS website "As from Thursday 6 June 2019, Quest Group in the UK has been appointed to manage all claims on policies issued by LAMP. Accordingly, all enquiries relating to claims should now be submitted by e-mail to the following address: [EMAIL="lamp@quest-group.co.uk"]lamp@quest-group.co.uk[/EMAIL] ". If you feel like it, the CEO there is Jeremy Fall, CEO – Quest Consulting, (London)
T: +44 (0)20 7015 8653
E: [EMAIL="jfall@quest-group.co.uk"]jfall@quest-group.co.uk[/EMAIL]


I don't know about you, but communications on this whole sorry saga are abysmal. If you don't go looking, you will never know. This is way out of line with today's norms in customer care and communication expected from well managed businesses.

c'est_moi

My credit card company will not pay out for the year's cover that I have never had on the grounds that I am able to cancel the policy. Who knows what or when I will get any of the money back. Not at all happy as I could not cancel the policy before it should have started on May 28th as the website would not allow me to log on.

Roger_Peney

I received this from Quest Group. At last, some clarity and honest communication. Well done to Quest Group! :T


"We acknowledge your frustration at the situation and apologise that you have not had received any contact from your broker directly.


As you are aware LAMP Insurance Company has been put into Liquidation and as such there will be a delay in processing claims whilst various processes/procedures are established. It is hoped, nevertheless, that claims will start to be processed again next week. [email dated 11 Jun][/email]



Due to LAMP’s insolvency, the Liquidator is unable to pay any claims in the immediate future. As such, in LAMP’s current position, the Financial Services Compensation Scheme (“FSCS”) steps in to protect the interests of individuals and companies with a turnover of less than £1million. The scheme will usually pay out 90% on eligible claims for the 100% share accepted by the Official Receiver into the LAMP estate. This is subject to the FSCS’ own terms and conditions and compensation is not guaranteed upon acceptance into the LAMP estate. "

eco_warrior

c'est_moi wrote: »

My credit card company will not pay out for the year's cover that I have never had on the grounds that I am able to cancel the policy. Who knows what or when I will get any of the money back. Not at all happy as I could not cancel the policy before it should have started on May 28th as the website would not allow me to log on.

I’d go back to your card company and show them this

https://www.fscs.org.uk/failed-firms/lamp/

Your claim should be pro-rata

yepe

This company is not decent. The appointment of evolution claim management is a conflict of interest. Now4cover is hiding behind various companies to con your money. Evolution Claim tries to mis-direct you so you would not claim. They know the problem and told you don't bother. Now4cover never replies to my email. This is really appalling. FCA should investigate now4cover and evolution claim management. They failed all duties of care to the customers.

jonfrewin

Roger Peney I see from the FSCS website that they have made payments to some people who had outstanding claims when LAMP folded. Have you been made good?

Dr_Crypto

Out of interest why were people using an unrated foreign insurer to insure UK properties? Why not use a more conventional and established firm with the proper ratings?