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12/12/2003
Liquidation could see 40,000 policies holders uninsured
The Financial Services Authority (FSA) has warned 40,000 insurance policyholders in Scotland that they are likely to have no effective cover, following the provisional liquidation of Tribune Risk and Insurance Services.
The FSA has urged all policyholders with a Tribune household insurance policy to contact their insurance broker or agent immediately to arrange replacement cover.
Tribune offered various types of general insurance and was operating without authorisation from the FSA. The company has no reserves or provisions in place to meet any claims which might be made or already have been made. The majority of policies relate to home insurance.
The Scottish Court of Session in Edinburgh, on the petition of the FSA, has appointed Dan Schwarzman and Bruce Cartwright of PricewaterhouseCoopers (PwC) as the Joint Provisional Liquidators of Tribune Risk and Insurance Services Limited (Tribune) on 10 December 2003.
The provisional liquidators have set up a Helpline. Any queries, including in respect of outstanding claims, should be addressed to the Helpline on 0870 164 8120.
(gmcg)
The FSA has urged all policyholders with a Tribune household insurance policy to contact their insurance broker or agent immediately to arrange replacement cover.
Tribune offered various types of general insurance and was operating without authorisation from the FSA. The company has no reserves or provisions in place to meet any claims which might be made or already have been made. The majority of policies relate to home insurance.
The Scottish Court of Session in Edinburgh, on the petition of the FSA, has appointed Dan Schwarzman and Bruce Cartwright of PricewaterhouseCoopers (PwC) as the Joint Provisional Liquidators of Tribune Risk and Insurance Services Limited (Tribune) on 10 December 2003.
The provisional liquidators have set up a Helpline. Any queries, including in respect of outstanding claims, should be addressed to the Helpline on 0870 164 8120.
(gmcg)
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