Bollington Underwriting could assist with Alpha Insurance in solvent liquidation, Lima unable to bind business

White Minibus

Following the news of Alpha Insurance A/S being declared bankrupt on 8th May 2018, leaving customers uninsured, Bollington are looking to step in and support those affected.

If you have clients where renewal is imminent, Bollington Underwriting can look to find an alternative insurer. With years of experience in motor fleet markets, we would welcome enquiries from those who currently place business with Lima.

We are here to help you

Through our MGA, Anjuna Underwriting, Bollington has acted to make it easier to place business with us. We recognise that your clients have been placed in a very vulnerable position and we are offering the following assistance:

Fleets:

  • Where risks have already been quoted through Anjuna Underwriting, we will take the last experience we have on file and will weight our premium in line with this history. If more information is known by you as their broker, we will take this into consideration.
  • For cases we have not previously seen, we will use the latest claims experience the broker has on file and will price accordingly.
  • Policies can be offered on an annual or pro-rata basis, dependent on client preference.
  • Customers will be required to sign a declaration regarding claims from the date of the latest claims experience to when cover is assumed.

Single vehicles:

  • If brokers provide the last renewal notice available, we will validate cover on the MID and do a CUE check to verify claims history prior to Alpha being the Insurer.
  • Where up-to-date NCD experience is unavailable, providing the risk runs claim free up to renewal, we will up the bonus accordingly.
  • Policies can be offered on a pro-rata basis until previous renewal date, assisting clients with cash flow.
  • Where an annual policy is taken out, providing it has run 9 months and been validated by ourselves, we will allow the full 12 months’ NCB.
  • Customers will be required to sign a declaration regarding claims from the date of the latest claims experience to when we assume cover.
  • 5% flex on rate is available on any annual policies if needed.

Take action

We are ready and waiting to place your business, with measures in place to make it easier to transfer Alpha business to us in these difficult circumstances.

Contact us on 01625 348040 to speak to an adviser now, or email underwriting@bollington.com with your risk information for consideration.