FSCS declares Gibraltar motor insurer Premier Insurance Company Limited in default
The Financial Services Compensation Scheme (FSCS) has declared Gibraltar-based Premier Insurance Company Limited in default after the motor insurer stopped trading and ceased paying claims in full. As a result, FSCS has stepped in to protect over 16,000 UK policyholders, including individuals and small firms with an annual turnover of less than £1m. The insurer had offered car, van and motorbike insurance across the UK and its failure does not affect similarly named UK-based brokers or firms.