East West Insurance Company Ltd
Failed 12 October 2020
FRN: 202806
East West Insurance Company Ltd (“EWIC”), a UK-registered insurance company, entered administration on 12 October 2020. FSCS declared the firm in default on 12 October 2020 and is stepping in to protect the majority of policies EWIC sold to individuals and small businesses.
FSCS is working closely with EWIC’s joint administrators, the Financial Conduct Authority and the Prudential Regulation Authority to understand the impact of the insolvency. We'll continue to update this page with the latest developments.
Subscribe to updates
We've sent you an email - you'll need to open it and click on the 'Confirm subscription' to receive updates
You've successfully subscribed to updates. You'll receive news on this firm as we publish it.
UK-based EWIC entered administration on 12 October 2020.
The firm had a portfolio of 10-15 year structural defects insurance policies. These transferred from Zurich Insurance plc in 2018. The structural defects policies were issued to home buyers by Zurich.
Richard Barker & Simon Edel of EY were appointed as joint administrators of EWIC. FSCS will work closely with them to ensure all eligible policyholders affected by the failure are protected. Armour Group will continue to manage EWIC’s claims handling functions.
Further information can be found at www.ey.com/en_uk/eastwestinsurance.
Contact information for EWIC policyholders: email enquiries@east-west-insurance.com, tel: 0333 4000 393.
FSCS
Contact us by phone on the number below, or via the contact form on the Contact us page.
Q&A
East West Insurance Company Ltd (“EWIC”), a UK-based insurance company, entered administration on 12 October 2020. As a result, it is no longer paying claims. FSCS declared the firm in default on 12 October 2020 and is stepping in to protect the majority of policies EWIC sold to UK individuals and small businesses.
The firm had a portfolio of 10 to15-year structural defects insurance policies. These transferred from Zurich Insurance plc on 31 March 2018. The structural defects policies were issued to home buyers by Zurich. Most of the claims against EWIC relate to structural defects policies covering issues such as defective cladding.
FSCS will protect most UK-based customers of EWIC who are individuals or small businesses with an annual turnover of less than £1m. You can find more information on the FSCS protection rules and limits on our website.
Find updates on the administration at www.ey.com/en_uk/eastwestinsurance or you can contact the joint administrator’s office at eastwestinsurance@uk.ey.com.
Armour will coordinate and handle claims on behalf of EWIC (in administration). Direct all claims enquiries to enquiries@east-west-insurance.com or tel: 0333 4000 393.
Armour will coordinate and handle claims on behalf of EWIC (in administration). Armour and the EWIC’s joint administrators will engage with contractors carrying out repair work. We hope to ensure any disruption to that work is kept to an absolute minimum.
We are working with Armour and the administrators’ office to identify which claims will benefit from FSCS protection.
FSCS’ level of cover is 100% of any claimed amount.
Temporary accommodation providers have been paid in advance to continue to provide their services. The administrators will contact them to ensure there’s alternative accommodation on an ongoing basis for those who need it.
The administrators will contact those in temporary accommodation within the next 14 days. If you are in temporary accommodation and have further questions, contact BuildingGuarantee@Armourrisk.com or 0333 4000 393. You will need to have the following information available:
- Full name
- Address of property undergoing repair
- Contact details (telephone number & email address)
- Brief summary of your situation
FSCS is working with the joint administrators to understand what effect the insolvency of the firm will have on its structural defects insurance policies. We will update this page with the latest news.
FSCS and the joint administrators’ office are still working to understand how premium refund claims might be calculated. We will update this page with the latest news.
Your policy documents might refer to ‘Zurich Insurance plc’ rather than ‘East West Insurance Company Ltd’. Zurich Insurance plc transferred this portfolio of structural defects policies to EWIC in March 2018.
You should have received a letter from EWIC at that time notifying you of the purchase and providing you with updated contact details. If you have any questions on this point you should contact enquiries@east-west-insurance.com or tel 0333 4000 393.
FSCS will protect UK-based customers of EWIC who are individuals or small businesses with an annual turnover of less than £1m. More information on FSCS protection rules and limits on our website.