3rd February 2017
The Financial Services Compensation Scheme (FSCS) has now made over 33,000 return of premium payments to former policyholders of Enterprise Insurance. This represents 75% of the total number of Enterprise motor policyholders.
FSCS has processed payments on all claims where the amount of the return of premium owed is known and agreed. The Scheme has been working with the liquidator of Enterprise, the brokers who placed the business and, where appropriate, the premium finance companies to agree and verify these amounts.
FSCS Chief Executive, Mark Neale says, “We have now compensated the majority of Enterprise motor policyholders, and we’re working hard to ensure those that have yet to receive their compensation do so as soon as possible.”
“Where payments are outstanding, this is generally because of discrepancies between the information held by the liquidator and by the responsible brokers, or because the liquidator also believes the broker still owes money to Enterprise for the policies concerned. FSCS cannot pay policy holders until these issues are cleared up.”
If you think you are due a return of premium on an Enterprise policy but have not yet received this, you should contact your insurance broker and ask when your claim will be submitted to FSCS.
If you are unsure whether you were covered by Enterprise, you should check your policy documents and speak to your broker.