Qudos Insurance A/S

Failed 20 December 2018

FRN: 571608

This page is for UK customers of Qudos Insurance A/S (Qudos), a firm that failed and FSCS declared in default on 20 December 2018.

FSCS is working closely with liquidator Boris Frederiksen of Kammeradvokaten Poul Schmith, the Danish Guarantee Fund (DGF) and the Danish Financial Supervisory Authority (Danish FSA) to understand the impact of Qudos’ bankruptcy.

We will continue to update this page with the latest developments. You can also get notification of the latest updates by following us on Twitter and Facebook.

Click the 'Latest updates' tab below for the most recent news on this firm.

  • 08 Apr, 2019

    GAP and other vehicle related policies

    FSCS worked with Tobell Insurance Services Limited (“Tobell”) and Car Care Plan Ltd (“CCP”) towards replacing 117,464 Guaranteed Asset Protection (GAP) and other vehicle related warranty policies with a new insurer, Lloyd’s Syndicate 4444. Lloyd’s Syndicate 4444 is managed by Canopius Managing Agents Limited.

    This replacement comes after Qudos’s liquidator gave notice that Qudos policies will be cancelled on 28th March 2019.

    Affected eligible policyholders will shortly receive a replacement policy from Tobell or CCP that matches the level of cover provided by your Qudos policy and ensures seamless cover for your vehicle. There will be no gap in protection between the old Qudos policy ending and the new replacement policy starting.

    Tobell and CCP will issue your replacement policy either by email (if Tobell or CCP has an email address for you) or by post.

    If you do not receive a letter or email from Tobell or CCP by 15th April 2019 you should contact Tobell at replacementpolicy@tobell.co.uk; or Car Care Plan at replacementpolicy@carcareplan.co.uk.

    If you have submitted a claim to Tobell or Car Care Plan on or before 7th February 2019 and this hasn’t been settled to you as yet Tobell and Car Care Plan are working with the Danish Guarantee Fund to obtain compensation for you. Tobell and Car Care Plan will advise of your claim status shortly.

    Pet policies

    FSCS worked with Trent-Services (Administration) Ltd to replace 911 Pet policies. The new insurer is ETU Forsikring A/S Registered Office: Hærvejen 8, DK-6230 Rødekro, Denmark.

    Affected policyholders will have received a letter and documents from Trent-Services (Administration) Ltd outlining the details of the transfer of their policies. The transfer comes after Qudos’s liquidator gave notice that these policies will be cancelled on 28th March 2019. There will be no gap in protection between the old Qudos policy ending and the new replacement policy starting.

     

  • 01 Apr, 2019

    Motor and motor add-on replacement policies

    FSCS worked with Adrian Flux Insurance Services Group to replace 45,069 Motor and motor add-on policies with effect from 28th March 2019. The new insurer will be Trinity-Lane Insurance Company Ltd.

    Affected policyholders will receive a letter from Adrian Flux Insurance Services Group outlining the details of the transfer of their policies. The transfer comes after Qudos’s liquidator gave notice that these policies will be cancelled on 28th March 2019.

    If you have not yet received a letter from Adrian Flux Insurance Services Group, you can contact them on 0344 381 6502 for Adrian Flux Insurance Services policyholders, or 0344 381 4575 for Flux Direct policyholders.

     

  • 11 Mar, 2019

    FSCS is continuing to work with the Qudos Liquidator, the Danish Guarantee Fund (DGF), and the following brokers to try and ensure a seamless transfer of cover to new providers on 28th March.

    • Adrian Flux (motor insurance);
    • Tobell Insurance Services (GAP warranty);
    • Trent Services (Pet insurance & NHS salary sacrifice insurance cover).

    Building and Land Guarantees Ltd has written to its customers offering them a range of options together with an explanation as to how they’ll be compensated by FSCS.

     

  • 12 Feb, 2019

    Following our 11 January update, FSCS is now protecting eligible policyholders for claims relating to accidents or incidents occurring between 8 February 2019 and up to 28 March 2019 when all existing policies will cancel.

    FSCS will pay compensation at 90% for own damage or warranty claims and at 100% for compulsory third-party claims.

    The broker Adrian Flux has confirmed with us that it will meet the 10% shortfall on FSCS protection for any motor or motor add-on claims that their customers make during this time. This is for policies sold under their following brands:

    • Bikesure.
    • Flux Direct.
    • HIC Insurance.

    Until 28 March, all Qudos insurance customers with current or potential claims should continue to follow the instructions on their policy and contact their usual claims handlers in the first instance.

     

  • 11 Jan, 2019

    The Qudos Liquidator has advised FSCS that he recently sent letters to all UK customers of Qudos Insurance. These letters inform customers of the effects that the Qudos liquidation will have on their insurance policy and the dates when these effects take place.

    The dates are as follows:

    20 December 2018 – start of bankruptcy proceedings against Qudos in the Danish Court.

    28 December 2018 – bankruptcy order published in the Danish Official Gazette.

    7 February 2019 – the DGF will not protect or pay compensation for any claim occurring after this date. If you have a claim after this date and you are eligible for FSCS protection, we may be able to help you, provided your policy is in force.

    28 March 2019 – all existing policies will cancel, three months after publication in the Danish Official Gazette.

    20 June 2019 – all claims the DGF protects must be reported by this date.

    In addition to the above dates, you must submit claims in accordance with usual limitation periods and time limits stipulated in your insurance policy.

    There are no time limits for FSCS compensation claims, other than limitation periods and time limits stipulated in your insurance policy.


    Return of premium claims

    The above dates do not apply to return of premium claims.

    The liquidator recommends that return of premium claims are made by the end of 2019. The mechanism for making a return of premium claim to the liquidator will not be available until after February 2019. The liquidator expects there to be long delays in dealing with these claims.


    Transfer of cover to a new insurer

    FSCS is working with the following brokers, the Qudos liquidator and the DGF to replace policies with new insurers:

    • Adrian Flux.
    • Tobell Insurance Services.
    • Trent-Services.
    • Building and Land Guarantees Ltd.

    Discussions are at an early stage. Policyholders affected by a transfer of cover to a new insurer will be contacted by their broker as soon as possible.

    For further information on claims the DGF covers, please refer to www.skadesgarantifonden.dk

    Please contact your broker for further information.

  • About Qudos

    Danish-based Qudos was declared bankrupt on 20 December 2018. The firm provided a range of insurance policies to the UK retail and commercial market: motor insurance, GAP insurance, pet insurance, warranty insurance, accident, sickness and unemployment insurance.


    Commonly asked questions

    Trent-Services (Administration) Ltd