FSCS pays over £26m in compensation for Enterprise Insurance claims

FSCS has been paying claims either direct to policyholders or through their broker or finance company, (after the liquidator cancelled Enterprise Insurance policies on 26 October).

By FSCS Team
22 December 2016 FSCS news
Handshake to show FSCS has paid over £26 m worth of compensation claims to customer

We have now paid over £26m in compensation to more than 30,000 policyholders. This includes just over £17.6m for motor policy claims, a further £1m on non-motor policy claims and more than £7.8m for return of premium claims.

We are continuing to work closely with the liquidator, brokers and finance companies to ensure we compensate the remaining policyholders as soon as possible.

FSCS Chief Executive, Mark Neale says: “FSCS is here to protect consumers. We are continuing our work to ensure policyholders are not out-of-pocket. For most policyholders this involves making return of premium payments via their broker, or finance company. They in turn, are transferring their Enterprise business to an alternative insurer.”

More information about how FSCS is compensating customers of Enterprise is available on the FSCS website. People who are unsure whether they were covered by Enterprise Insurance should check their policy documents and speak to their broker.