Unrated insurers
FSCS hikes broker levy up by £11m for 2020/21
Organisation says indicative levy for general insurance distribution is £23m and publishes Plan and Budget for the next financial year as total levy goes up by £87m.
Gefion ordered not to expand its scope of business
The Danish regulator says the unrated provider has “serious liquidity problems” as Gefion says it is in progressed discussions with potential capacity providers.
The Insurance Age Podcast: 10 January 2020
Laurence Eastham and Siân Barton consider the top stories from the first full week back in the office in 2020, focusing on Gefion and the recent spate of run-off announcements.
Danish regulator orders Gefion to correct information
Gefion has disagreed with the decision, as the regulator points to issues with one of the provider's reinsurance contracts.
Gefion meets €5m liquidity deadline
The Danish provider has complied with the order from a regulator to have liquid assets of at least €5m by the end of 2019, after further investment from shareholders.
Quizzical questions: 13 December 2019
Test your knowledge of the week's news with our topical quiz.
Pukka steps away from Gefion
The MGA moved away from the troubled unrated Danish provider earlier this year.
2019 in review: July's top stories
In July, the market was shocked by the departure of Amanda Blanc from Zurich after only nine months in the CEO EMEA role.
Gefion set end of year liquidity deadline by Danish regulator
The struggling unrated Danish provider must have €5m in liquid assets by end of this month as watchdog points to “serious” problems.
FSCS urges Alpha latent defect customers to submit claims
Scheme has in total paid out £31m in premium refund compensation to 229,000 Alpha policyholders following the collapse of the unrated Danish insurer in May 2018.
CRL Management likely to close amid Alpha fallout
Alpha was CRL's sole provider until it went bankrupt last year, and CRL has filed a document on Companies House which proposes the firm is wound up.
Gefion secures €6m recapitalisation deal
The unrated Danish provider has been looking to recapitalise since July when the Danish regulator ordered it not to increase its volumes of business due to its solvency situation.
FSCS pays out to Lamp home customers
Unrated Gibraltarian insurer went into liquidation in May.
FSCS pays out to Lamp GAP and health customers
Gibraltarian insurer went into liquidation at the end of May.
CRL stops writing new business amid Alpha fallout
The FSCS has been advised that all queries are being redirected to BCR.
Gefion and Qudos sue Staveley Head - report
Staveley Head denies the breach of duty and breach of contract accusations alongside claims firm Proximo.
Opinion: Litmus Analysis' Peter Hughes on unrated insurers
Ready for unrated? Brokers that use unrated providers need to make sure they’ve done their homework, says Peter Hughes
FSCS set to compensate Alpha Insurance latent defect insurance policyholders
The body has stepped in after the collapse of the deal with BCR Legal Group.
Collapsed Alpha replacement cover deal hits problems
FSCS flagged that “last minute issues” are preventing the deal being finalised as it admits it is unsure what the final outcome will be.
Red Sands scoops up failed insurer Lamp’s home policies
Now4Cover has moved the customers to Gibraltar-based provider Red Sands.
FSCS agrees Alpha replacement cover deal
Collapsed Danish insurer's latent defect policyholders will now be covered by a new, solvent insurer.
CRL close to finding replacement for Alpha policies
Broker has had its deadline extended several times, but FSCS says "good progress" has been made in recent days.
Danish regulator orders Gefion not to expand its business volume
Premium Credit also issued Gefion with an ultimatum for cutting business ties.
Premium Credit to cease working with Gefion
Premium finance provider has had unrated Gefion under "active review" since October and says move follows the various actions imposed by the Danish regulator, including the restatement of Gefion's solvency ratio.