6th April 2006
On 6 February 2006, the Jersey Financial Services Commission issued a public statement to make it known that Blue Swan Insurance (Jersey) Limited was closed to new business on 21 November 2005 and that Blue Swan Insurance (Jersey) Limited is no longer authorised to write new policies of insurance or to renew any existing policies.
If you bought a policy with Blue Swan Insurance (Jersey) Limited after 21 November 2005, then you may not have valid insurance cover in place and you may need to arrange new cover immediately.
Blue Swan Insurance (Jersey) Limited is not authorised by the FSA, the UK's financial services regulator, to carry on insurance business in the UK. If you deal with a financial services firm that is not authorised by the FSA you do not:
have the protection of the Financial Ombudsman Service (FOS), the independent service for resolving disputes between consumers and financial firms, or
the Financial Services Compensation Scheme (FSCS) if the firm is unable to meet claims against it or honour its commitments to its customers (for example, if it is unable to provide insurance cover that you have paid for).
What you should do
If you think you may have a claim for mis-selling, for example against an authorised insurance broker in the UK, you should first contact the firm that sold the insurance policy to you.
If you are not happy with how it deals with your complaint, and you have exhausted its complaints procedures, you can contact the Financial Ombudsman to see if it can help.
If the insurance broker that sold the insurance to you is unable to meet claims made against it, FSCS may be able to help you.