Elite Insurance goes into administration
The Gibraltar-based insurer closed to new business in July 2017.
Gibraltar-based Elite Insurance Company has been placed in administration and is no longer paying claims, according to the Financial Services Compensation Scheme (FSCS).
The legal expenses specialist closed to new business with immediate effect on 5 July 2017 and has since been in run-off.
The FSCS stated that it is stepping in to protect the majority of policies that Elite sold in the UK to individuals and small businesses.
The insurer provided a range of products in the UK through a network
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