Alpha Insurance A/S Customers

Please note, this page only applies to you if you have a policy which is underwritten by Alpha Insurance A/S, if you have a policy with another one of our insurance partners, then you can continue to use it as normal. 


If you're not sure, you can check who underwrites your policy by looking at the "We/Us/Our" definition in your policy document.




If you have a question and you can't find the answer in the letter, please call our dedicated Alpha Insurance hotline on +44 (0)3333 010 750



Thursday, October 18th 2018. 7pm

Update: Premium Refunds

We are currently working with the Danish Guarantee Fund (DGF) to expedite the settlement of premium refunds. The FSCS are supporting us in this, and we very much hope that we will be in able to settle the refunds in the near future. 

We'd like to once again thank you for your patience during this time.


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Thursday, August 16th 2018. 5pm


We would like to reassure all Policy Holders that the replacement policy cost that shows on your new schedule, does NOT have to be paid by you. The FSCS have paid the cost of the replacement policy, however, we have shown the cost of the replacement policy on the schedule. If you are happy with your replacement policy, there is no need for you to do anything, just keep the documentation in a safe place until you need to use it to make a claim.


For clarity, the section that we are referencing is shown below.





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Friday, August 10th 2018. 5pm


Please be aware that the Financial Services Compensation Scheme (FSCS) has recently updated their website with further news in the Alpha Insurance bankruptcy. The FSCS has confirmed how, in conjunction with ourselves, we have put together a replacement policy for all policy holders. If you have received our letter confirming that your policy has been transferred, please be assured that the FSCS are covering the cost of your new Policy. You do not need to do anything, and you will not be charged for this continuation of cover. Where your new schedule shows a premium cost, this is purely the cost to the FSCS and not to you, as the policy holder. If you have a question and you can't find the answer in the letter, please call our dedicated Alpha Insurance hotline on +44 (0)3333 010 750


You can read more on the following link. FSCS Website - Alpha Bankruptcy


Additionally, you may have seen the FSCS Twitter page which has been releasing regular updates regarding the situation. You can keep up to date on the following link: https://twitter.com/FSCSNews




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Thursday, July 9th 2018. 6pm


Further to our last communication, Premia Solutions, along with the FSCS and the Danish Guarantee Fund have put in place like for like replacement cover for your vehicle, which will cover you until the original end date of your policy.


You will shortly receive a letter from us outlining this in full. In the meantime, you can read a transcript of the letter that you have been sent by clicking the links below. 


If you're a private policy holder, or a commercial policy holder with a turnover of less than £1m, please click here


If you're a commercial policy holder with a turnover in excess of £1m, please click here


If you have a question and you can't find the answer in the letter, please call our dedicated Alpha Insurance hotline on +44 (0)3333 010 750




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Thursday, July 5th 2018. 10:30am 


If you're a private policy holder you will be receiving a letter from us, along with the liquidator of the bankrupt estate, over the course of the next few days.


A transcript of the letter is available to read here.


The link also contains an updated FAQ - however, if you can't find an answer to your question there, you can call our dedicated Alpha policy holder hotline on +44 (0)3333 010 750.




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Thursday, June 7th 2018. 2pm


Further our conversations with both the FSCS and The Danish Guarantee Fund, we wanted to provide a brief update in respect of how the situation is evolving. 


It is likely that a continuation of cover will be provided by transferring all Alpha policies to a new insurer on a like-for-like basis. We have agreed this in principle with the relevant parties and are now working on the finer details to secure this.


We are also confident that we'll soon be in a position to pay existing claims.


What can you expect to happen next?


You will receive a letter from the law firm representing the bankrupt estate of Alpha Insurance advising of the bankruptcy - this is a formality which is required by Danish law. You will also receive a letter from us detailing the new insurer arrangements, and exactly what this means for both private individual policyholders and commercial customers. 


What do I need to do now? 


There is no need for you to do anything right now, and we want to thank you for your continued patience on the matter. We will be writing to all policy holders in due course with full details of the solutions that we are putting in place - we expect this to happen very soon.


We're confident that we'll be in a position to pay existing claims (and refunds), as well as formally writing to all policy holders with the details of the continuation of cover in the next few weeks. 




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Tuesday, May 29th 2018. 12pm


Discussions are advancing with the FSCS, the Liquidator of Alpha Insurance A/S and the Danish Guarantee Fund, in order to settle claims at the earliest opportunity and confirm continuation of cover for all policyholders. We are now confident that plans will be announced within the next 7-10 working days. We would like to thank all our customers for their patience in relation to this matter. In the meantime, please also continue to check the FSCS website updates.


The FSCS dedicated Alpha Insurance A/S bankruptcy page can be found by clicking here




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 Friday, May 18th 2018. 3pm


We are in contact with the FSCS in respect of both being able to settle claims at the earliest opportunity, and establish continuation of cover for all policy holders. These discussions are on-going and as soon as we can we will update this page further.


In the meantime, the FSCS has posted an update confirming that they expect most customers who hold policies with Alpha Insurance A/S to be covered under the Financial Services Compensation Scheme if they have a claim, or are entitled to a return of part of the premium that they paid for their policy.


They go on to say that the are working closely with the Danish Guarantee Fund to agree how claims and cancellations can be processed as quickly as possible for UK policy holders.


The FSCS have a page dedicated to the bankruptcy of Alpha Insurance A/S, which can be found by clicking here




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Monday, May 14th 2018. 2:08pm - Update for policy holders who have claims pending.


We understand that you may be concerned about the status of your claim, so we want to provide you with a reassuring update. 


What is happening now? 



  • The Danish Guarantee Fund (The Danish equivalent of the FSCS in the UK) provide cover for 100% of authorised claims.



  • We have written to the Danish Guarantee Fund over the weekend with proposals that we handle all submissions for claim payments on behalf of our policy holders and are waiting to hear back from them. Subject to them accepting our proposal, this will make the process of getting claims paid as hassle free as possible for you.



  • As the proposal is now with the Danish Guarantee Fund, we can't provide an indication of time, but we will update as soon as possible. 



  • Regular updates on the situation will continue to be provided here, and we are advising all customers to check regularly.


Naturally, we are experiencing high call volumes at this time, we would respectfully ask that you do not call us, but instead keep checking here, or wait for us to contact you with more information.


 


Many thanks for your continued patience. 


 


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Saturday, May 12th 2018. 5:26pm


We have written to the Danish Guarantee Fund with proposals that we handle all submissions for claim payments on behalf of our policy holders. It is much simpler for us to do this, than to ask our policy holders to contact them individually. We will update this page with the outcome of our proposal as soon as we have one.


 


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Friday, May 11th 2018.


We have, today, written to the FSCS with proposals to put in place replacement cover for all policy holders affected by the bankruptcy of Alpha Insurance A/S/ The FSCS have advised us to contact the Danish Guarantee Fund to follow up. We will do this over the weekend.


Additionally, the Danish website that declared the bankruptcy of Alpha has made some small changes to the FAQ's. This was initially updated on the 10th of May. See the link to both the declaration and a further Q and A page


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


http://www.skadesgarantifonden.dk/english/Sider/QAs.aspx


 


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Thursday, May 10th 2018. 11:14 am


Further to the announcement of the bankruptcy of Alpha Insurance A/S, we are working to ensure that all claims against Alpha policies can be paid as soon as possible.


If you have a new claim, please contact us as normal and we will take you through the claims process.


We are advising all customers that claims are covered under the Financial Services Compensation Scheme (FSCS), and once we have a solution in place to make payment, we will do so as quickly as we can.


We are currently working with the industry's regulatory bodies to confirm coverage and will update on this topic in due course.


 


All policies are covered by the FSCS, and more information on this can be found by clicking here.


 


We have updated this page with an FAQ, below. (May 10th 2018, 4:50 pm)


 


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Tuesday, May 8th 2018. 4:49 pm



The trustees of the bankruptcy estate have today written to us to advise that Alpha Insurance A/S, as of 8th May 2018, have been declared bankrupt.


Consequently, we cannot make any claim or refund payments with immediate effect.


If you are a policy holder who is currently claiming through and Alpha Insurance A/S policy then we will be in contact with you directly to advise what to do next.


ALL POLICIES ARE COVERED BY THE FINANCIAL SERVICES COMPENSATION SCHEME (FSCS)


More information can be found by clicking here



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