FSCS dragging their heals over Gable Insurance

It’s now been well over two months since Gable Insurance AG went bust, but the FSCS are dragging their heals over dealing with the problem.

I called the Financial Services Compensation Scheme FSCS today and explained that we are a small business which has been left with the debt of paying for an insurance policy which was could not use, and also an unpaid claim which is detrimental to our cash flow. I asked what the update was, bearing in mind that the information on the FSCS website was now almost 2 months out of date.

I was told that they have “no update at the moment” and can’t help further. The advice is to send an email to gable@bwb.li “with your query” and you “should” get a response. That email address is for Batliner Wanger Batliner Attorneys at Law Limited, Liechtenstein, who are the Liquidators.

It seems that the FSCS are being less than helpful, bearing in mind the thousands of small businesses and individuals left severely out of pocket due to no fault of their own. To simply say “contact the liquidators” is offering virtually no support to those affected by this issue. It’s a disappointing response considering that compulsory insurance is supposed to be protected in full by the scheme with a 90% upper claim limit.

Surely the FSCS should be doing more to advice people on the process and what’s involved, considering that many people won’t understand the complex process of liquidation.

Email response from the liquidator

I did receive a response from Batliner Wanger Batliner Attorneys at Law Limited. It read:

Policyholder or other creditor
Please register for our newsletter (http://gableinsurance.li/register-for-newsletter/). This will enable us to keep you updated about the next steps in the bankruptcy proceedings.
Brokers
Please see our memorandums (http://gableinsurance.li/category/news/) as well as the FAQ under (http://gableinsurance.li/faq/). All important information is set out here.

I was then sent another email which read:

Dear Sir

Thank you for your email request concerning claimshandling.

Please be informed that we have appointed Enstar (EU) Limited („Enstar“) as Gable AG’s overall run-off manager. You will get assistance in all matters in connection with claimshandling by addressing your issue to Gable.Claims@enstargroup.com

Many thanks in advance for your most appreciated cooperation.

Kind  regards

Rechtsanwälte AG   ·   Attorneys at law LTD.

Am Schrägen Weg 2
FL-9490 Vaduz
T  +423 239.78.78
F  +423 239.78.79

office@bwb.li
www.bwb.li

Why couldn’t the FSCS tell me to email Enstar in the first place?

It seems ludicrous that I had to email the liquidation to get an email address to the EU claims handlers when the FSCS could have given it to me. I’ve sent Enstar an email and await a response.

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