Opinion: Ashwin Mistry on unrated insurers

Getting your fingers badly burnt: With the collapse of two unrated insurers in the recent past, Ashwin Mistry ponders what future such providers have

The recent collapse of Enterprise Insurance follows the demise of Setanta less than two years ago. To paraphrase Lady Bracknell: To lose one unrated carrier may be regarded as a misfortune; to lose two looks like carelessness.

It’s difficult in the light of the recent history of the motor market to see a place for Gibraltar-based or any other unrated insurers, largely because they appear to row directly against the current tide of good consumer outcomes. The Insurance Act and the Enterprise Act