When it comes to motorcycle insurance MCE were a big name. Former BSB title sponsors, with the bloke that walked around with a big head, can’t remember his name. Unfortunately, MCE UK’s parent company based out of Gibraltar operating under a freedom of services basis, to UK customers, have filed for administration. Policies were sold through a UK broker (MCE UK).
MCE January 2022 administration update
As of 11th January the latest update shows the whole MCE group has fallen, meaning all policies will end as of 31st January 2022. Policies will be valid until this date, however any risk changes (change of vehicle, address, modification or point declarations) will not be adjusted. After this date any policy will end, so your vehicle will be uninsured.
If you paid for the years insurance update in full beforehand, and there is time left on your existing policy, you may be able to claim money back through the FSCS. It is also unclear what will happen with regards to No claims bonuses for both this year and previous years. Hopefully more information will come over the next few days.
November 2021 update
Current MCE customers might also struggle to make changes to existing policies, for example changing off addresses, bike changes or any other declarations.
Gibraltars supreme court received paperwork from the 19th November, around the same time that MCE put out a statement stating they would not be taking out any new policies. In theory, existing policyholders should have to do nothing, as the current cover is still valid from the UK broker. All claims, admin and management of policies has been handled through the UK broker, which has not gone into administration. Contacts through the website, and through the phone and emails to customer services should still work, however, there may be a delay in response times.
It is thought that the UK broker will be looking for alternative arrangements for new business, and for existing customers wishing to renew.
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