Elite Insurance has announced with effect from the 5 July 2017 that they have ceased writing all new business with immediate effect and that the Board has confirmed that they will be able to conduct an orderly run-off with the company able to meet all it’s obligations to existing policyholders and creditors. The company has confirmed that all current policies will remain in force and cover will not be affected.
The company made the announcement on their website on the 5 July 2017.
What action do Elite Insurance policyholders need to take?
According to the Company’s statement all current insurance policies will remain in force and cover will be unaffected during the run-off period. This of course may be subject to change as the situation develops over time.
It does mean that when you policy falls due for renewal then cover will have to be arranged with an alternative provider as you current insurance will not be offered for renewal.
If you require any further information regarding this announcement or advice on how you should proceed, please feel free to contact us directly.