Broker News: Latest on Alpha Taxi Insurance Collapse from FSCS

Here is the latest statement from the FSCS on the collapse of Alpha Insurance, who were specialists in the private hire and minicab driver market:

Update for brokers (managing general agents) for Alpha Insurance, and claims handling firms who acted on behalf of Alpha Insurance or their Agents

To help us prepare our response to the failure of Alpha Insurance we are asking managing general agents and claims handling firms to contact us at brokers.alpha@fscs.org.uk to discuss how we might work together to assist Alpha Insurance policyholders.

We are sorry but we can only respond to brokers who were managing general agents and claims handling firms via this address.

We are aware that Alpha Insurance appear to have provided a range of insurances to the UK retail and commercial market, such as professional indemnity, motor and gap insurance, and home insurance. We are investigating the status of that insurance and whether and to what extent Alpha Insurance policyholders are protected by the Danish Fund and/or FSCS. We will provide a further update shortly.