Insurance firm into admininstration

saver_111

Hi 
I had two claims which are over 3 years but less than 5 years old. I had logged them with my insurance company in 2020 but due to covid situation could not pursue them.. the firm has now gone into administration with claims open.. so I keep paying premiums as I claimed but I did not get any write offs or paybacks.. the car suffered damages which I paid from own pocket .. what to do? thanks

CliveOfIndia

saver_111 said:

so I keep paying premiums as I claimed but I did not get any write offs or paybacks

So you're still paying premiums to the company that's in administration?  Or were they taken over/bought by someone else?  If they were taken over by another company then you chase up the claims with the new company.

Or did you just take out another policy with a completely different company?

Wonka_2

saver_111 said:

Hi 
I had two claims which are over 3 years but less than 5 years old. I had logged them with my insurance company in 2020 but due to covid situation could not pursue them.. the firm has now gone into administration with claims open.. so I keep paying premiums as I claimed but I did not get any write offs or paybacks.. the car suffered damages which I paid from own pocket .. what to do? thanks

What stopped the claims being pursued over that period ? Assuming valid claims then there's no reason for such an extensive delay ? Did they involve court proceedings that were delayed ? Or were your insurers waiting for information from you that's been delayed ?

More information is needed before anyone can give a view on 'what happens next' ?

saver_111

> i am premiums to renew policies with other companies because i claimed..

> the claims were not processed as due to covid working arrangement were disturbed then afterwards both covid and company dissolving itself created delays holding until now.. the claims were lodged but were never processed.. these were accepted also .. i checked and one is non-fault and the other one is fault claim.. 

saver_111

hi anyone?

Wonka_2

saver_111 said:

hi anyone?

It’s not making much sense at the moment so a timeline would help

You had motor insurance and pre-Covid you’ve lodged a couple of claims and are still awaiting payout but in the intervening period the insurer has ceased to exist ?

so

What was the latest status of the claims (and were there corresponding claims against you from 3rd parties ? 

What correspondence have you received advising of the previous insurers demise ? And instructions for ongoing claims ? And have you followed them ? 

DullGreyGuy

You're making us guess a lot here... you've posted in the Motor section so presumably this is car, van or bike insurance? Or is it GAP or some other ancillary insurance?

No UK Motor insurer have gone into administration (brokers etc may have) and so you are probably talking about one of the Gibraltar firms that have folded?

You say you keep paying premiums because of the claims but Motor is an annual policy so there would be no need to stick with the company post the end of the policy year of the last claim.

saver_111

Wonka_2 said:

saver_111 said:

hi anyone?

It’s not making much sense at the moment so a timeline would help

You had motor insurance and pre-Covid you’ve lodged a couple of claims and are still awaiting payout but in the intervening period the insurer has ceased to exist ?

so

What was the latest status of the claims (and were there corresponding claims against you from 3rd parties ? 

What correspondence have you received advising of the previous insurers demise ? And instructions for ongoing claims ? And have you followed them ? 

> the claims are opened and not settled..
> when i say i keep paying premiums, i mean that as the claims are registered on my name therefore it gets highlighted to the insurance seller and they charge me more..
> the claims are for car

Wonka_2

saver_111 said:

Wonka_2 said:

saver_111 said:

hi anyone?

It’s not making much sense at the moment so a timeline would help

You had motor insurance and pre-Covid you’ve lodged a couple of claims and are still awaiting payout but in the intervening period the insurer has ceased to exist ?

so

What was the latest status of the claims (and were there corresponding claims against you from 3rd parties ? 

What correspondence have you received advising of the previous insurers demise ? And instructions for ongoing claims ? And have you followed them ? 

> the claims are opened and not settled..
> when i say i keep paying premiums, i mean that as the claims are registered on my name therefore it gets highlighted to the insurance seller and they charge me more..
> the claims are for car

So given @DullGreyGuy's comment that no UK Insurer has gone into administration then who's the insurer ?

And again what correspondence have you had confirming this and telling you how to proceed with open claims ?

Without clear, detailed answers no-one's going to be able to give any advice

DullGreyGuy

Wonka_2 said:

saver_111 said:

Wonka_2 said:

saver_111 said:

hi anyone?

It’s not making much sense at the moment so a timeline would help

You had motor insurance and pre-Covid you’ve lodged a couple of claims and are still awaiting payout but in the intervening period the insurer has ceased to exist ?

so

What was the latest status of the claims (and were there corresponding claims against you from 3rd parties ? 

What correspondence have you received advising of the previous insurers demise ? And instructions for ongoing claims ? And have you followed them ? 

> the claims are opened and not settled..
> when i say i keep paying premiums, i mean that as the claims are registered on my name therefore it gets highlighted to the insurance seller and they charge me more..
> the claims are for car

So given @DullGreyGuy's comment that no Insurer has gone into administration then who's the insurer ?

And again what correspondence have you had confirming this and telling you how to proceed with open claims ?

Without clear, detailed answers no-one's going to be able to give any advice

I said no UK Motor insurer has... there have been Gibraltar based insurers (eg MCE that did motorbike insurance) and potentially other overseas plus if its some ancillary insurance like wheels or keys then it could be some small player. 

For MCE's failure GR123 are currently doing the claims handling on behalf of the FSCS and have paid out circa £26m in claims since the colapse. 

saver_111

octagone insurance for cars..company name was octagon insurance