Verex Insurance Services Limited enters administration

If you bought your insurance through Verex, they acted as your insurance broker, and you are insured by a separate company. You can check your policy documents to find out who your underlying insurance is with, and your policy is not affected by Verex’s administration.

Verex’s contact centre remains operational and will be managed by Car Care Plan Limited. If you need to make changes to your policy, you should continue to refer to your insurance policy document and use the contact details provided in your document.

Verex is an insurance broker that sold motor insurance products from a range of insurers, your insurance policy remains valid, and you continue to have cover. Should you wish to purchase a policy from another insurer you are free to do so, however please be aware that your policy may be subject to cancellation charges, and you should check your terms and conditions.

Your policy remains in place and if you have a claim you should continue to follow the standard process as detailed in your policy documents. If you have an existing claim, your claim will be processed as usual.

The Financial Services Compensation Scheme (FSCS) is the compensation scheme for clients of UK authorised financial services firms and protects consumers when those firms are not able to meet protected claims against them. The FSCS has eligibility criteria in respect of the activities and the people who are covered.

FSCS can cover claims against insurance brokers, for example if they failed to properly arrange cover with an insurance provider for you.

We do not currently expect there will be any need for FSCS to compensate customers who used Verex as a broker, but the FSCS will work with the administrator and provide further updates if this changes.

Having considered the firm’s financial position, its directors decided to place it into administration.

The administrator will update customers directly and via FAQs on the PBC website[2].

If customers have any specific queries in respect of the insolvency, they can contact the administrator using these details:

For Verex Insurance Services specific queries:

• Email: [email protected]
• Telephone: (01604) 212150

For Verex Assistance Limited specific queries:

• Email: [email protected]
• Telephone: (01604) 212150

Car Care Plan Limited have acquired the assets of Verex Insurance Services Ltd and Verex Assistance Ltd and will administer its insurance policies and take over the services previously provided by Verex.

For questions regarding your policy, to claim a refund or enquire about a vehicle repair, please continue to refer to your insurance policy document and use the contact details described in your document.

If you can’t find your policy document and you would like to process a cancellation or ask a question about vehicle repair please contact the firm using these details:

• Email: [email protected]
• Telephone: 0333 320 1701

To find out more about the change to Car Care Plan Limited please contact them using these details:

• Email: [email protected]
• Telephone: 0344 815 8522