Millburn Insurance Company Ltd.

1. Who qualifies for FSCS protection?

FSCS protects individuals and small businesses against UK risks. FSCS covers business conducted by firms authorised by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). European firms (authorised by their home state regulator) that operate in the UK may also be covered.

Return to top

2. Does FSCS cover all Millburn policies?

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

  • We do not protect any ships (including yacht) insurance policies.
  • We do not protect large businesses unless they bought compulsory insurance, such as employer’s liability cover.
  • We do not protect small businesses where they purchased credit 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

3. Are there any limitations or restrictions on FSCS protection for Millburn policyholders?

The maximum level of compensation for claims against firms is 90% of the agreed claim with no upper limit.  FSCS protects certain compulsory insurance (such as employer’s liability and motor third party risks) at 100% (to the full extent of the policy cover). 

Return to top

4. Why does FSCS pay compensation at 90% of the value of the claim?

The limit is laid down in the rules set for FSCS by the Financial Conduct Authority (FCA). There is no upper limit to our level of protection for insurance claims, although there may be financial limits and other terms expressed within the policy of insurance that will still apply.


Return to top

5. What happens if I have a claim?

In the first instance you should contact the insurance broker who helped place your insurance with Millburn.


Return to top

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

Begbies Traynor have arranged for your existing claim to be processed by Certo Loss Adjusters. You should contact them for more information. Their contact details are: Certo Loss Adjusters, Rawdon Court, 20 Leeds Road, Leeds, LS19 6AX.  T:  0113 3879000 Website:


Return to top

7. How do I find out if I am eligible for protection?

You will need to complete an FSCS application form and this can be obtained from Certo (contact details are listed above). The form should be completed and returned to FSCS. We will then advise you promptly whether you are entitled to FSCS protection. 


Return to top

8. I run a business and have a Millburn policy. 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 one of these policies 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

9. 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

10. I cancelled my policy with Millburn a short while ago, can I make a claim?

Millburn entered administration on 9 December 2013.  Unfortunately, if you cancelled your policy before this date, FSCS will not be able to help you with any claims that occurred after the policy was cancelled. This is because you no longer have a valid insurance contract with the company.


Return to top

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

Each claim is assessed on its own particular circumstances. However, FSCS will work with the Administrators to ensure that outstanding claims are processed as quickly as possible.

Return to top

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

Any queries relating to policies should be directed in the first instance to your insurance broker, but you may also contact the Administrators at Begbies Traynor of 32 Cornhill, London, EC3V 3BT or

Return to top

13. I submitted a claim to Millburn and urgently need to settle it. Can you tell me what the status of my claim is?

Any queries relating to claims should be directed in the first instance to Begbies Traynor at the address above.  If you are a UK policyholder Begbies Traynor will have asked Certo Loss Adjusters to manage your claim on their behalf and you can contact Certo by telephone on 0113 387 9000 or email:

We will aim to pay hardship claims as a priority.

Return to top

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

We do not charge consumers for using our service.

Return to top

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

Consumers should be aware claiming compensation from FSCS is free and each application is judged on its merits. Some people may prefer to pay a third party to submit their claim for them.

However, claims management companies can take a sizeable part of the possible compensation and are no more likely to make a successful claim than consumers can on their own.

Return to top

16. Does FSCS protect claims for loss of premium?

The policy wording will state the circumstances in which policyholders can cancel a policy and when a refund of premium can be paid. This may not be possible in all circumstances and you should check your policy wording.

In certain circumstances FSCS might be able to help with return of premium claims. Where the policy allows a return of premium and the policy is properly cancelled by an eligible policyholder or the administrator (on behalf of the firm, then FSCS can protect the value of the unexpired premium. However, FSCS can only assist where eligible policyholders cannot recover what they are owed by the firm.

If the policyholder paid for the premium with a credit card, they can ask the credit card company to reimburse them for their loss under Section 75 of the Consumer Credit Act 1974 for premiums payments between £100 and £30,000. Policyholders should speak to their credit card company about whether they can help.

Return to top

17. My claim with Millburn was being reviewed by the FOS. Are they still dealing with my claim?

In the first instance, you should contact Begbies Traynor and request a review of your claim. 


Return to top

18. How does FSCS calculate a return of unexpired premium claim?

This payment is compensation for the unexpired part of the premium you paid for your policy with Milburn. It is based upon how much you paid for your policy and how long was left between the date of cancellation and when the policy was due to expire.

FSCS have been advised by the administrators of Millburn Insurance Company Ltd of the amount you are entitled to under the terms of your contract of insurance.  Under our rules we are able to refund 90% of this figure. The following is an example of how FSCS would calculate a return of unexpired premium claim:

  • A claimant has a 12 month policy costing £100. 
  • The policy is then cancelled 10 months after it begins, meaning two months are unexpired. 
  • The full value (100%) of these two months is (100/12 multiplied by two)= £16.67
  • The compensation payable will be 90% of 16.67 which (£16.67 multiplied by 90%)= £15.00


Return to top

19. Am I still covered? Who should I speak to about alternative cover, or other financial advice?

You will have received a letter early in 2014 advising you of the cancellation of your policy. Any cover would have ended at that time. If you need advice about taking out a new policy, you should speak to your insurance broker.

Return to top

20. Why has this taken so long?

Full policy data was not held by Millburn but by various insurance brokers. These records had to be verified by the administrator against the records that the company did hold.

Return to top

21. What should I do if I don’t agree with the amount you’re paying me?

We are paying you the amount confirmed to us by the administrators of Millburn (Begbies Traynor). If you disagree with this amount you should either contact your insurance broker, or Begbies Traynor on tel: 020 7516 1542 or via email on

Return to top

22. What policy of insurance did I hold with them?

FSCS does not hold details of the type of policy you took out. You may wish to contact the insurance broker who arranged the policy with you.

Return to top

23. Who was Milburn? I don’t remember taking out a policy with them.

Millburn Insurance Company Ltd was an insurance provider that wrote a variety of types of policy.  They also wrote certain parts of policies that were branded with the name of another company.  For example a small business might have a policy, with Millburn providing cover for buildings and another insurer providing cover for employer’s liability. 

Return to top

24. Why is the FSCS involved?

FSCS is the UK's compensation fund of last resort for customers of authorised financial services firms. We may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. We are dealing with the refund of premiums for policies taken out with Milburn, as Milburn is no longer trading. You will need to complete an FSCS application form and this can be obtained from Certo (contact details are listed above). The form should be completed and returned to FSCS. We will then advise you promptly whether you are entitled to FSCS protection. 

Return to top