All policyholder enquiries are being directed to BCR Legal Group
The company that provided latent/structural defect policies to failed Danish unrated insurer Alpha has stopped selling new business, it has emerged.
A statement on the Financial Services Compensation Scheme website read ’FSCS has been recently made aware that CRL has stopped writing new business. All calls and enquires to CRL relating to Alpha are being redirected to BCR for handling’.
CRL Management was BCR’s appointed representative. It assured that calls and enquiries relating to CRL and Alpha are being handled ‘as normal’.
CRL has so far not responded to a request for further information when contacted by Insurance Times.
The FSCS was forced to step in to compensate 14,000 Alpha Insurance latent defect premium insurance policyholders following the collapse of a deal to find them replacement cover after the Danish insurer was declared bankrupt in May 2018.
BCR and CRL had been working with the FSCS to find a replacement carrier to provide cover for Alpha’s 10-year latent defect/structural damage insurance policies.
After multiple deadline extensions from the FSCS, a deal was thought to have been struck, only for it to fall back into jeopardy.
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