Thousands Of Policies Transferred Out Of Failed Insurer

Law360, London (April 11, 2019, 2:06 PM BST) -- Britain’s bankruptcy compensation scheme said that it has worked with brokers to safeguard customers of a collapsed Danish insurance company by transferring approximately 165,000 motor and pet insurance policies to alternative providers.

The Financial Services Compensation Scheme said on Wednesday that it has secured insurance cover for U.K. customers of Qudos Insurance A/S, which was declared bankrupt by a Danish court in December at the request of the Danish Financial Supervisory Authority, or Finanstilsynet.

The FSCS said that it worked with brokers Tobell Insurance Services Ltd., Adrian Flux Insurance Services group and Trent-Services (Administration) Ltd. to transfer the motor, guaranteed asset...

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