The race is on for customers of Gable Insurance.
The Financial Services Compensation Scheme (FSCS) has issued a warning that their motor policies will soon lapse – with December 16 set as the deadline date.
In a statement the regulator noted that Gable is in default and that it has “stepped in” to protect UK customers of the Liechtenstein-based firm. However, people only have two weeks to find alternative cover – those who do not face driving without insurance, which is illegal and can have significant consequences especially if an accident occurs.
“If anyone thinks they may have motor insurance with Gable but aren’t sure, they should ring their broker to check,” the statement reads. “Insurance brokers who think they may have customers with Gable Insurance should help them to find alternative cover.
“The deadline will also apply to employers’ liability insurance so companies insured with Gable Insurance will need to act too.
“If people don’t find new insurance before the deadline they will not have cover, and FSCS will not be able to protect them if they have a claim.”
Commenting further, FSCS chief executive Mark Neale noted that no risks should be taken.
“Gable customers need to find alternative motor cover as soon as possible,” he said. “The consequences of driving without insurance are very serious and we cannot protect you if you have an accident after the 16 December deadline. Please act now to avoid problems.”
The FSCS website has information about its insurance protection generally and specific information about Gable.
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Gable Insurance now in default
Gable enters liquidation
