MCE Insurance Limited (the Company) has been placed into administration by its directors. Steven Edwards, Vincent Green and Mark Holborow of Crowe U.K. LLP were appointed joint administrators on 17 July 2023 (the Joint Administrators).
The Company is an insurance broker based in Northamptonshire, specialising in motorbike and car insurance, and brokering and managing policies which are underwritten by Sabre Insurance Group (Sabre). The Company is authorised and supervised by the Financial Conduct Authority (FCA).
The Company will not be writing any new policies. The Joint Administrators are working closely with Sabre to find a resolution that minimises any disruption to existing policyholders and ensures they are treated fairly.
All customers’ existing policies remain in place, they will continue to have cover and are not impacted by the appointment of the Joint Administrators. There is therefore no action customers need to take. Sabre is not affected by this administration and will continue to meet valid claims made under existing policies.
Customers who pay for their policies monthly must continue to pay any premiums which are due in order to maintain cover. Failure to keep up payments for insurance may result in the policy being cancelled.
The Company's portal system is currently being maintained as normal. Customers requiring any urgent assistance with their existing policies should continue to make use of these services. However, there is no need for customers to take any action in relation to their policies or to contact the Joint Administrators as a result of their appointment.
Customers and creditors of the Company will be contacted by the Joint Administrators with further information as and when it becomes relevant.
Correspondence in relation to the administration and for the attention of the Joint Administrators should be sent to the administration email address at Crowe.MCE@crowe.co.uk or, alternatively, by post to Crowe U.K. LLP, 4 Mount Ephraim Road, Tunbridge Wells, Kent, TN1 1EE.
For the avoidance of doubt, the Company is a separate entity to MCE Insurance Company Limited (now Green Realisations 123 Limited), a Gibraltar based insurance company which entered administration in November 2021.
Steven Edwards, Vincent Green and Mark Holborow are licensed to act as Insolvency Practitioners by the Insolvency Practitioners Association under licence numbers 26090, 9416 and 22834 respectively. The Joint Administrators act as agents of the Company without personal liability.
Being alert to scams
All customers should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from MCE Insurance Limited or Crowe U.K. LLP, please end the call and contact MCE Insurance Limited directly.
What happens to my insurance policy?
If you bought your insurance through the Company, they acted as your insurance broker and you are insured by Sabre. Sabre is not affected by this administration and your policy is still in force.
I need to amend my policy, what do I need to do?
If you need to make an urgent change you should contact the Company as usual to confirm what options are available to you and to discuss your needs further.
Do I still need to pay my premiums?
You must continue to pay any premiums which are due. Failure to maintain payment for your insurance may result in your cover being cancelled.
Can I move to another insurer?
Your insurance policy remains valid and you continue to have cover. Should you wish to move to another insurer you are free to do so, however please be aware that this may be subject to any cancellation charges applicable to your insurance policy and you should check your terms and conditions.
I have a claim, what should I do?
Your policy remains in place and if you have a claim you should continue to follow the standard process as detailed in your policy documents. If you have an existing claim, Sabre will continue to process your claim as usual.
The link below is available for online claim reporting:
Is there FSCS coverage?
The Financial Services Compensation Scheme (FSCS) is the compensation scheme for clients of UK authorised financial services firms and protects consumers when those firms are not able to meet protected claims against them. The FSCS has eligibility criteria in respect of the activities and the people who are covered.
FSCS can cover claims against insurance brokers, for example if they failed to properly arrange cover with an insurance provider for you.
It is not expected that there will be any need for FSCS to compensate customers who used MCE Insurance Ltd as a broker, but the FSCS will work with the Joint Administrators and provide further updates if this changes.
Why did the directors of the Company apply to place the firm into administration?
Having considered the firm’s financial position, its directors made a decision to place it into administration and on 17 July 2023, Mark Holborow, Vincent Green and Steven Edwards, all of Crowe U.K. LLP were appointed as joint administrators.
Where can I find more information on the progress of the administration?
The Administrators will update customers directly and via the FAQs on this page. If customers have any specific queries in respect of the insolvency they can contact:
- Email: Crowe.MCE@crowe.co.uk
Do I need to use a claims management company?
You should proceed with caution if you are approached by a claims management company (CMC).
For the vast majority of customers, there is no benefit in involving a third party in a claim.
If you use a CMC to assist you with any claim, the CMC is likely to seek a fee which may reduce what you get back.
Is the FCA overseeing the administration?
The Company is still authorised by the FCA and remains subject to supervisory oversight and the FCA’s rules. The Joint Administrators are officers of the Court and need to comply with relevant insolvency law. The individuals appointed are authorised to act as licensed insolvency practitioners by Insolvency Practitioners Association. We are liaising closely with the Joint Administrators.
The firm is subject to requirements, a copy of which can be found on the FCA Register.
What do I do if I am unhappy with the amount quoted as an additional premium?
The additional premium is set by your insurer and cannot be changed. If you are unhappy with the sum of the additional premium, you can cancel the policy and seek insurance cover elsewhere.
Can I obtain a quote for a new policy or renew my insurance policy?
The company is not renewing or issuing new policies.
I need to change my card details, what if these are not changed before the last chance date?
The automatic cancellation cannot be stopped if the last chance date has passed. If card details need changing please contact us by email at 'firstname.lastname@example.org'.
I need to make changes during the term of my policy, what should I do?
All policy changes must be made using the customer portal. If a quote is not generated by the portal then your insurer is unable to provide cover. Accordingly, you can cancel your policy and obtain cover from an alternative provider.
I am unable to log on to the portal.
Policy holders must register to use the portal before it can be used.