Gable Insurance AG


1. As Gable is based in Liechtenstein, does FSCS cover policyholders with the firm?

FSCS will protect many of the firm’s UK policyholders. FSCS will protect most of the policies Gable sold in the UK to individuals, small businesses and any policyholder who purchased compulsory insurance such as motor third party risks or employers liability cover. 

FSCS protects policies taken out in the UK in respect of EEA risks and policies taken out in the EEA (and Iceland) in respect of UK risks.

Return to top

2. Which Gable policies may qualify for FSCS protection?

Gable sold a variety of policies which covered UK risks that may qualify for FSCS protection. They include: 

  • Motor insurance
  • General liability insurance
  • Combined commercial insurance
  • After the event (ATE) insurance
  • Contractors all risks
  • Home owner insurance

Return to top

3. What do you mean by UK risks?

These are examples of UK risks: 

  • In the event of a motor claim the insured vehicle must be registered for use in the UK.
  • In the event of a claim for property damage, the insured property must be situated in the UK.
  • In the event of a liability claim, the insured risk (i.e. the business) must be situated in the UK.
  • For other claims where the policyholder is an individual the insured risk (i.e. the property) must have been situated in the UK at the time the policy was taken out.
  • For other claims where the policyholder is not an individual the establishment to which the risk relates must have been based in the UK at the time the policy was taken out.

For claims under short term policies (fewer than four months), the policy must have been taken out in the UK.

 

Return to top

4. Who qualifies for FSCS protection for UK risks?

FSCS protects individuals and small businesses. To qualify as a small business a firm must have an annual turnover of less than £1m at the time that you purchased one of these policies. 

FSCS also protects all policyholders who have purchased compulsory insurance cover such as motor third party risks or employers liability.

Return to top

5. How much of my claim will be protected?

Compulsory third-party insurance under a motor policy or employers liability policy 

  • FSCS protects compulsory insurance to 100% with no upper limit 

Non-compulsory Insurance 

  • FSCS protects personal accident insurance to 100%
  • FSCS protects all other types of non-compulsory insurance to 90% of the value of the claim (e.g. accidental damage to own vehicle) 

After the event insurance (ATE) 

  • FSCS protects private individuals and small businesses with a turnover of less than £1 million to 90% of the claim

Contractors all risks insurance

  • FSCS protects small businesses with a turnover of less than £1 million 
  • If the cover includes any compulsory insurance such as Employers Liability that will be FSCS protected to 100% 
  • All other types of cover under the policy will be protected to 90% of the claim

General liability such as public liability and products liability

  • FSCS protects private individuals and small businesses with a turnover of less than £1 million to 90% of the value of the claim

Property insurance such as fire damage to property or theft of property

  • FSCS protects private individuals and small businesses with a turnover of less than £1 million to 90% of the value of the claim 

In all cases, FSCS compensation is subject to the limits which apply under the terms of the policy.

Return to top

6. Does the FSCS cover all Gable policies?

FSCS does not cover all policies or policyholders. For example: 

  • We do not protect non-UK risks
  • We do not protect any ship (including yacht) insurance policies
  • We do not protect large businesses unless they bought compulsory insurance, such as employer’s liability cover or motor third party risks
  • We do not protect small businesses where they purchased credit insurance or goods in transit insurance
  • We do not protect reinsurance
  • FSCS protection is unlimited but if the policy contains a financial limit we have to apply that limit or other terms

Return to top

7. What happens if I have a claim?

In the first instance you will need to contact the loss adjuster or insurance broker named in your Gable policy documents. The Gable trustee in bankruptcy, Batliner Wanger Batliner, has appointed Enstar (EU) Limited in the UK to oversee and manage the Gable claims processing and run-off on their behalf.

Return to top

8. I had a claim being processed by Gable. Will I have to start again and apply to FSCS?

You will need to contact the loss adjuster or insurance broker named in your Gable policy documents. The Gable trustee in bankruptcy, Batliner Wanger Batliner, has appointed Enstar (EU) Limited in the UK to oversee and manage the Gable claims processing and run-off on their behalf.

Return to top

9. Should I cancel my policy now or make other arrangements?

We suggest you take advice before cancelling your policy. You should also take advice on making other arrangements to ensure you have insurance cover.

Return to top

10. I run a business and have a policy with Gable. Is my business covered?

FSCS protects individuals and small businesses. If your business had an annual turnover of less than £1m at the time that you purchased your policy with Gable we should be able to help you. Where we can help protection will be at 90% of the value of the claim under the policy. Our protection is unlimited but if the policy contains a financial limit we have to apply that limit. 

If you are a business that purchased compulsory Employers Liability cover, you will be protected for claims under that cover whatever your annual turnover. 

We do not protect credit or goods in transit insurance.

Return to top

11. I had a claim lodged with Gable and need the money urgently. Can the FSCS do anything to help me?

You first need to contact the loss adjuster or insurance broker named in your Gable policy documents and explain your position to them. The Gable trustee in bankruptcy, Batliner Wanger Batliner has appointed Enstar (EU) Limited in the UK to oversee and manage the Gable claims processing and run-off on their behalf, with whom we can address any hardship issues.

Return to top

12. Does FSCS have the money to pay claims?

Yes.  Since 2001, FSCS has paid out more than £26bn to more than 4.5m people. The financial services industry funds us through a compulsory levy. We can levy the industry for the costs of claims.

Return to top

13. Can I claim for a return of the premiums I paid to Gable?

In certain circumstances we can pay for the loss of any premium you may have paid, but we recommend you check the position with your broker and that you take advice before making any decision to cancel your policy.

Return to top

14. How long will it take to process my claim?

The Gable trustee in bankruptcy, Batliner Wanger Batliner, has appointed Enstar (EU) Limited in the UK to oversee and manage the Gable claims processing and run-off on their behalf. The claims handling agents and loss adjusters dealing with your claim will make a recommendation about your claim to Enstar and, where appropriate, Enstar will request a payment from FSCS.

Return to top

15. Who should I contact if I have a question about my policy?

You will need to contact either your Insurance broker or the trustee in bankruptcy, Batliner Wanger Batliner Rechtsanwalte. FSCS are currently working with the trustee in bankruptcy on a process to compensate eligible policyholders. We will provide an update on this process in due course.

 

Return to top

16. I submitted a claim to Gable. Can you tell me what the status of my claim is?

Any queries relating to claims should be directed to the loss adjuster or insurance broker named in your Gable policy documents.

Return to top

17. Do I have to pay to claim compensation from FSCS?

We do not charge consumers for using our service.

Return to top

18. Do I need to use a third party to claim for compensation?

You don't need to use a third party to claim for FSCS compensation. FSCS is free and each application is judged on its individual merits. 

Return to top

19. How do I make sure I am covered?

As at 16 December 2016, all policies with Gable Insurance have been cancelled. Please speak to your broker to find out what the next steps are to arrange alternative cover. It is important to do this as soon as possible. 

Return to top

20. What should I do if my policy is with Gable Insurance?

All policies with Gable Insurance were cancelled on 16 December 2016. Please speak to your broker to find out what the next steps are to arrange alternative cover as soon as possible. 

Return to top

21. Do I need to keep paying my finance company even if my broker has transferred my insurance?

Please read the terms of your premium finance agreement. It is very likely that you will need to continue paying your finance company even if your policy has been cancelled.

Return to top