Urgent notice to all Alpha Policyholders

Urgent notice to all Alpha Policyholders

We have been notified that as of the 8th May 2018 Alpha Insurance A/S have been declared bankrupt. As a result, we have been advised by the Financial Conduct Authority in the UK and the Danish Financial Services Authority to inform all policyholders that their Motor Trade Insurance cover has been terminated and to seek alternative insurance coverage as soon as possible to ensure they are legally insured.

https://www.fca.org.uk/news/statements/alpha-insurance-as-declared-bankrupt

As an Alpha policyholder we have now cancelled your insurance with immediate effect and urge you to contact us directly on 01782 900547.

We are currently awaiting clarification from both the FSCS and the Danish regulator as to whether any refunds of unused premium will be granted. Our current understanding is that you will either receive 90% of your unused premium via the FSCS, alternatively you may receive a pro rata refund from the Danish regulator less 1000 DKK (approximately £118).

The official notice from the DFSA is linked below and we urge you to read it in full as it explains what will happen in respect of refunds and claims.

https://www.finanstilsynet.dk/en/Nyheder-og-Presse/Pressemeddelelser/2018/Alpha-insurance-080518

We really appreciate your custom and due to these unprecedented circumstances we are taking a large number of calls and working hard to place all policyholders on alternative policies as soon as we can. We apologise for the time it is taking to get through on the phones but please keep trying.

We apologise for the inconvenience this is causing you and we will ensure we keep you informed via this page when we get further information over the coming hours and days.