Alpha Insurance A/S declared bankrupt

This page is for Customers of Alpha Insurance A/S an insurance company that was declared in default on 8 May 2018. This page was last updated on 4 September 2018 - We'll continue to update this page with the latest developments. You can also get notification of the latest updates by following FSCS on Twitter and Facebook

Customers of Alpha Insurance are reminded that their policies expired on 11 August 2018. Please read below for more information.

Who is Alpha Insurance A/S?

Alpha Insurance A/S (Alpha Insurance), a Danish insurance company, was declared bankrupt on 8 May 2018. FSCS has been working closely with Alpha’s liquidator, the Danish Guarantee Fund and the Danish Financial Supervisory Authority (Danish FSA) to understand the impact of Alpha’s bankruptcy.

What types of insurance cover did Alpha Insurance provide in the UK? 

Alpha Insurance provided a range of insurance policies to the UK retail and commercial market. Policy types included solicitors’ professional indemnity insurance, motor insurance gap insurance and latent defects insurance (insuring customers from defects in new build homes).

How is FSCS helping UK customers of Alpha Insurance?

If a UK customer isn’t covered by the Danish Guarantee Fund it is possible they can still benefit from FSCS protection if they are a business with an annual turnover of less than £1m.

We know this will include:

  • Commercial policyholders who need to claim for damage to their own vehicle
  • Solicitors with professional indemnity cover

Find out more about our insurance compensation claim eligibility rules.

How are UK customers of Alpha Insurance protected for premium refunds on their motor policies?

All Alpha Insurance policies terminated on 11th August 2018.

Non-commercial motor policyholders

If you are a non-commercial motor policyholder your premium refund claim will be covered by the Danish Guarantee Fund and you will get a refund for the unexpired period of your insurance cover subject to a deductible of 1,000 DKK. You may be entitled to a top-up payment from FSCS if, after the application of the 1,000 DKK deductible, you have not received 90% of the unexpired premium amount owed to you. FSCS will work with the Danish Guarantee Fund to ensure the premium refund owed to you is calculated correctly.

To make a return of premium claim you will need to complete an online form on Alpha Insurance’s website here.

Commercial motor policyholders (i.e. Taxi drivers)

For eligible commercial policyholders in the UK, you will get a refund for the unexpired period of your insurance cover. FSCS will cover 90% of your premium refund claim.

To make a return of premium claim you will need to complete an online form on Alpha Insurance’s website here.

Replacement insurance

If your broker has been able to replace all of their customers’ Alpha policies to a new insurance provider, FSCS will pay the broker the return of premium compensation where we have reached an agreement with them. Your broker will then pass this return of premium on to your new insurance provider. Your broker/new insurer will tell you if they’ve replaced your policy and you will be able to cancel any replacement cover during the “cooling off period” should you want to.

Premium Finance

FSCS will pay finance companies where customers have bought the cover using a loan that required them to assign their rights to the finance company. We’ve been working with the two main providers: Close Brothers and Premium Credit, to finalise the terms of how we can arrange the payment. If you bought your cover using credit from either of these companies, we will pay the compensation directly to them and it will go towards paying back the loan. 

How are UK customers of Alpha Insurance protected for premium refunds on their GAP replacement policies?

FSCS worked with Premia Solutions to replace 177,000 Guaranteed Asset Protection (GAP) policies with effect from 12 August 2018. The new insurer will be a Lloyd’s of London syndicate.

Affected policy holders will receive a letter from Premia Solutions outlining the details of the transfer of their policies. The transfer comes after Alpha’s liquidator gave notice that these policies will be cancelled on 11 August 2018.

If you have not yet received a letter from Premia Solutions, you can contact:

Premia Solutions’ customer hotline for Alpha GAP insurance on 03333 010 750 or visit

How are UK customers of Alpha Insurance protected for premium refunds on their latent defect / structural damage policies?

FSCS is working closely with both CRL Management Ltd and the Alpha Liquidator to ensure that eligible policyholders either receive a premium refund or benefit from a replacement policy arranged by their broker.

Please keep checking this page for updates on this.

How can customers claim back the cost of their premium from their credit card provider?

If you paid for your insurance using a credit card, in certain circumstances the credit card company will reimburse you for the product you have purchased. You should contact your credit card company to find out how they can help you.

You should tell us if you successfully claim from your credit card company as this money would be deducted from any claim you make to FSCS. You may be breaking the law if you attempt to claim the same loss back from both FSCS and your credit card company.

Where FSCS pays you a return of premium claim we would inform your credit card company if they ask us.

What if you need to make a claim, or check the status of an existing claim, on your Alpha policy?

For Alpha motor claim queries contact Broadspire & Crawford UK:

For queries relating to Alpha solicitor’s professional indemnity claims contact Pen Underwriting:

For any Alpha structural damage / latent defect insurance claim queries contact CRL Management:

Find out the latest news on Alpha Insurance claims handling on their website.

How does FSCS insurance protection work?

FSCS can compensate for claims against 'European Economic Area' insurers that are authorised in the UK, but only for UK business. 

Find out more about our insurance compensation claim eligibility rules

What other products does FSCS protect?

FSCS protects a range of financial products including, deposits (current & savings accounts), investments, pensions, endowments, PPI, debt management and home finance. Find out more about the products FSCS covers.





Jargon Buster


money placed in a bank or similar institution to earn interest or for safe-keeping.


qualifying for compensation under Scheme rules.


Financial Services Authority, was previously the UK's regulator for the finance industry. It was replaced by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on 1 April 2013.

In default

A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.