Warning over insurance cover
Customers of an insurance company are being warned that they risk travelling without cover after it was put into provisional liquidation.
According to The Daily Telegraph, the High Court has appointed PriceWaterhouseCoopers as liquidators to Whitely Insurance Consultants which, the newspaper states, also trades as Kingfisher Travel Insurance and Kingfisher Insurance Services.
The provisional liquidation reportedly comes after a “public interest winding-up petition” from the Financial Services Authority (FSA).
The FSA is quoted as saying: “The FSA alleges that Whiteley was putting customers at risk by effecting contracts of insurance as a principal without authorisation prior to January 14, 2005, and in breach of its regulatory permissions from January 14 by selling insurance policies that were not underwritten by an authorised insurer.”
The Telegraph quotes on the liquidators as saying: “There are policyholders who believe they may have insurance cover when in fact they do not. If you are in any doubt you are advised to take out replacement insurance immediately.”
PWC has set up a helpline on 08705 234803.
Report by Tim Gillett, News From Abroad Ltd www.newsfromabroad.com
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