News analysis: “Slow motion car crash” – Gable administration causes broker headache
Brokers warn that Liechtenstein insurer’s collapse is bad for the whole industry, not just its clients
Gable Insurance was declared in default by the Financial Services Compensation Scheme (FSCS) last month and the Liechtenstein Court also appointed a liquidator.
According to the market the declaration is bad news for brokers whether they used Gable as a provider or not.
Gable has insisted it is solvent and still able to pay claims but the Financial Conduct Authority (FCA) emphasised on 21 November that the insurer is “in liquidation”.
The regulator noted: “Under Liechtenstein Insurance Contract
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