FSCS sends out cheques to UK customers of bankrupt Alpha Insurance

insurancebusinessmag | May 30, 2019

A total of £6.9 million in premium refund payments -that is what the Financial Services Compensation Scheme (FSCS) is currently busy issuing to 9,000 commercial taxi policyholders in the UK who bought Alpha Insurance A/S coverage via managing general agent Capital Underwriting Agencies Group Ltd (CUA).The latter had authorisation from Alpha Insurance to sell commercial taxi policies in the UK on their behalf, but the policies lapsed last August 11 after the Danish insurer was declared bankrupt on May 08 last year.

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