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Enterprise insurance in liquidation


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Communication from the Provisional Liquidator of Enterprise Insurance Company plc on 29th July 2016


On the 25th July 2016 the Gibraltar Supreme Court appointed me as Provisional Liquidator of Enterprise Insurance Company plc (“Enterprise” or the “Company”).


I am now managing the Company’s affairs under the supervision of the Gibraltar Financial Services Commission and will report back to the Supreme Court within three months.


Insurance policies issued by Enterprise have not been cancelled or disclaimed but I am unable to currently pay any claims arising under such policies. It is also uncertain if the Company’s assets will be sufficient to meet insurance claims in full.


In these circumstances it is advisable for policy holders to contact their brokers.


I am in contact with the compensation schemes in the various countries in which Enterprise wrote business to coordinate with them the processes by which eligible claims may be paid from the schemes. I will update this website with further information regarding these processes as it becomes available.


I am also engaging claims managers to continue to administer, process and agree claims for admission as insurance claims and for submission to compensation schemes as applicable. Contact details of my claims managers will be added to this website shortly.


Any queries from policy holders or others may be directed to [email protected]


or by telephone at number +350 200 50150

United Kingdom Policy Holders


I can confirm that Motorway Direct PLC has been appointed as one of the claims management companies assisting me in the processing of claims in respect of the following classes of business:


GAP Insurance

Motor Warranty

Brown and White Goods Warranty


Motorway Direct PLC contact details are: Telephone 03300 555 262 or

Email [email protected]


Information regarding the Financial Services Compensation Scheme may be obtained at the FSCS website


Frederick White

Provisional Liquidator

Enterprise Insurance Company plc

Important notice for policy holders


Enterprise Insurance Company PLC (the Company) would like to inform its policy holders that it has requested the Gibraltar Financial Services Commission (GFSC) to suspend its authorisation to write new insurance business. As part of this request, the GFSC has also issued a Direction to preserve the assets of the Company.


Enterprise has been under close supervision from the GFSC due to concerns about Enterprise’s financial position. Very recently Enterprise provided the GFSC with an independent assessment of its financial position. This assessment demonstrated a significant deterioration in the Company’s position and that Enterprise is insolvent.


The shareholders of the Company have been unable to contribute additional capital into the company, and in the interests of policyholder protection the Company has requested that the Commission takes steps to control the activities of the Company including issuing winding-up proceedings.


The GFSC is now taking steps to issue winding up proceedings with the cooperation of Enterprise to present a petition for the winding up of the Company. It is the intention to issue an application for the appointment of a provisional liquidator.


The GFSC is taking appropriate steps to protect policyholders. The GFSC is notifying the European Insurance and Occupational Pensions Authority (EIOPA), and the relevant financial services regulators and compensation schemes in France, Italy, Greece, Norway, Ireland and the UK, where Enterprise has written business.


Enterprise is committed to keeping its policy holders as informed as possible in these difficult circumstances.


For further information, please see the GFSC’s website.


You can find answers to the most common questions, or you can ask us a specific question by clicking here: Q & A section.


Alternatively you can email us on [email protected] or call us on 00350 200 50150

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Unless i missed it. It does not list all business they were involved in. Is it purely warranty type insurances ?

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This is what I was able to find out. FSCS is the Financial Services Commission in Gibraltar


Compulsory Insurance – Third-party cover under a motor policy.


FSCS protects compulsory insurance at 100%.


Non-Compulsory Insurance


FSCS protects the personal accident section of the policy at 100%.


FSCS protects all other types of non-compulsory insurance at 90%, e.g. accidental damage to own vehicle, except for small businesses with a turnover of £1million or more.


Limits of FSCS protection


FSCS compensation is subject to the limits that apply under the terms of the policy.


Other Types of Insurance Policies


After-the-Event Insurance


FSCS protects private individuals and small businesses with a turnover of less than £1million. Protection is at 90%.


Guaranteed Auto Protection - GAP - Policyholders


FSCS protects private individuals and small businesses with a turnover of less than £1million. Protection is at 90%.


Professional Indemnity Policyholders


FSCS protects individuals and small businesses with a turnover of less than £1million. Protection is at 100%.


Financial Loss Warranty Contracts


FSCS protects individuals and small businesses with a turnover of less than £1million. Protection is at 90%.

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  • 2 months later...
  • 4 weeks later...

I've read as much as I can on this outfit. I had van insurance with Enterprise, taken out through Quoteline Direct via F Wilson, Brokers, and financed monthly by Close Brothers. The policy was effective from 24th March 2016 for 1 year.


Close Brothers say I cannot cancel the payment plan with them and I must contact FSCS. I have contacted F Wilson and awaiting a reply.


I am trying not to tarnish my credit record by withholding monthly payments to Close Brothers although I have been forced to take out a new policy with effect from 31st October.


Any guidance please?

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  • 2 weeks later...

I have GAP insurance through DirectGAP.

The policy was placed by them with Enterprise (as underwriter).


I've received a notification from Grant Thornton, Enterprise's liquidator.

I don't (currently!) need to make a claim.

Calling DirectGAP, they tell me I need do nothing, and a replacement underwriter will be in place next week.


If your policy wasn't taken out directly with Enterprise / paid directly to Enterprise, I suggest contacting the broker, who may be finding a replacement underwriter.

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I am also concerned as I have the letter about the liquidation but I don't know what I have insured with them as I don't know what company we are talking about.


I'm not being sarcastic when I say "check the letter"(or rather, the address of the letter!)

Mine was addressed to:


Direct Gap


Which reminded me to check my direct gap policy, which confirmed Enterprise as the underwriter!


Worth checking the addressing on your letter?.

If it is in the address on your letter can you let us know, and which broker it shows?

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Oh BassaS you clever old thing, mine is Studio which is a company I purchased a food mixer and a vacuum cleaner from and I took out a warranty. The confusion came when it gave my name and then Studio as I live in an apartment and I just thought they were being posh lol. Thank you so much x

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Not me being smart : when the post arrived I got told "there is a letter here for you from direct gap"! : when I couldn't see where it said direct gap I asked how they knew & got told it was in the addressing!.


At least it is definitely worth pointing people to the addressing as it works for at least 2 brokers .....

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will have to check with direct gap as we too have had the letter

Please note:


  • I am employed in the IT sector of a high street retail chain but am not posting in any official capacity,so therefore any comments,suggestions or opinions are expressly personal ones and should not be viewed as an endorsement or with agreement of any company.
  • i am not legal trained in any form.
  • I have many experiences in life and do often use these in my posts

if ive been helpful kick my scales, if ive been unhelpful kick the scales of the person more helpful :eek:

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Regarding GAP insurance with DirectGAP, DirectGAP emailed today.


Policy : Vehicle Replacement

Policy Number


Important Notice




You may have received a letter from Grant Thornton regarding your Gap Insurance policy.

Firstly, I am delighted to confirm that Direct Gap Insurance and our parent company Motor Gap Ltd are in robust financial health. The Liquidator is referring to Enterprise Insurance Company as being insolvent in his recent communication to you.


Secondly, I can only apologise for the letter that has been issued by Grant Thornton. This letter is extremely confusing and refers to cancelled insurance policies. These are car insurance (compulsory road risk) policies, not GAP insurance policies.


Thirdly, all GAP insurance policies are still valid and in place and claims are being paid on a daily basis by the Financial Services Compensation Scheme. Currently, the FSCS is telling us there is a possibility that the Liquidator could cancel GAP insurance policies. In that event, we are confident that, we will be able to offer you a no cost replacement cover on exactly the same terms and conditions as your current Enterprise Insurance policy. If you do not wish to continue cover, then our understanding is that you will be entitled to a pro-rata refund of premium less 10%, which will be paid to you by the FSCS.


All new business written by Direct Gap Insurance is now being underwritten by the A+ rated insurer AM Trust International, who are completely unaffected by this situation.


Until we know for certain whether or not the Liquidator is going to cancel your policy, we are unable to give you more information, but there is no cause for concern with your cover.


Any update we receive we will communicate with you immediately.


Please feel free to get in touch if you require any further information.


Kind Regards,


James Cartwright


Managing Director

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