Gap Insurance 123

[neil-c]

Anyone else get their letter today? Gap 123, who were often quoted on here, have gone into liquidation. Still trying to understand the jargon but not looking good for those of us with policies.

[Gap123]

Hi All,

I am happy to confirm that the letter sent out by Grant Thornton was regarding one of the original insurers we used for the GapInsurance123 brand. That company was Enterprise Insurance Company PLC.

GapInsurance123 is not in liquidation; the GapInsurance123 policy you have is still live and claims are currently being processed by the Financial Services Compensation Scheme in the UK, this is the same protection you have with any of our policies.

There is an agreement in place, in principle, to move all the Enterprise underwritten policies to a new insurer in the coming weeks once the Liquidator agrees to disclaim (effectively give notice to cancel) the current Enterprise underwritten policies. We understand this will be in the next few weeks.

We are so sorry for any confusion caused by the letter. If you read it carefully enough you can see motor insurance policies were cancelled on 27th October but all other policies (including Gap) remain in place. No clear mention of the FSCS cover are also made either. The letter has led many to think that either their policy is void or that GapInsurance123 is in liquidation and neither of these assumptions is true.

If you have any questions please call our team on 0800 195 4926 and we will be happy to address any further concerns you may have.

[neil-c]

Apologies, didn't see the other thread and thought this was hot off the press. Thanks very much for clearing up my confusion. Hate jargon filled letters!