MCE insurance

[mondeoman]

Anyone else in the UK like me in the nightmare scenario with MCE insurance underwriters going into administration and cancelling all policies on 31/01/2022, my policy was  due to run until September. Looks like I can probably kiss that money goodbye.

[David.]

Looks like I can probably kiss that money goodbye.

Looks like you can thank the FSCS for "a pro-rata refund for 90% of any unused months left on your policy".

Motorbike insurer MCE to cancel cover for all 105,000 policyholders – what it means for you (moneysavingexpert.com)

[mondeoman]

Yes David, seen that, can take up to 7 months (if they cough up), meanwhile I've got to pay out again for a new policy elsewhere. :sueno:

[Bob Radford]

Fortunately I pay monthly. Costs a few quid more but simply cancelled their direct debit


Bike sure did me a good deal, got an online quote, called them up and got it even cheaper.

[PeteM]

If you paid by credit card, which I always do, and the premium was over £100 you can claim any losses from the card issuer.


https://www.which.co.uk/consumer-rights ... CUb9i8Kwfa

[Doctor T]

Strange, if you go to their site you can still get a quote. I was with them but changed to Carol Nash at the start of the month. My home insurance company went bust a couple of years back. It was 8 months into the policy. Lost years no claim and it took over a year to get my remaining money back. So like Bob i only pay monthly via direct debit.
Am sure MCE is owned by a larger insurance company. It may be worth contacting the company your insured with as MCE is only a broker. You may find you are still insured. Good luck. Whatever you don't go with One Call. They are internet only and the only way to contact them is via a chat messenger. It took my son 3 days in queuing waiting for contact.

[mondeoman]

Thanks PeteM, I'm going to investigate that.
DoctorM, it's MCE insurance (Gibraltar) that's gone into receivership, (approx 125,000 customers affected) it was MCE UKs underwriter so MCE UK are unaffected and still trading, their underwriters are Sabre insurance so you can still get quotes from MCE UK. But I wouldn't trust 'em now....