Verex Insurance Services, AR enter administration – assets move to new owner

Assurances offered that policies and ongoing claims are not impacted

Verex Insurance Services, AR enter administration – assets move to new owner

Motor & Fleet

By Terry Gangcuangco

Car Care Plan has acquired the assets of motor insurance broker Verex Insurance Services and appointed representative Verex Assistance after the two entered administration on August 18.

In a notice to customers, the new owner said: “Car Care Plan will take over the services previously provided by Verex to administer your insurance policy. We want to reassure you that if you have paid your premium or if are still paying in instalments to Verex Premium Finance, your policy purchased via Verex is still valid and will continue to be covered as normal.

“If you have any queries regarding your policy, or would like to make a claim, then please use the contact details in your policy documentation. We are delighted with the acquisition of the capabilities of Verex, and we welcome Verex’s many talented employees to the Car Care Plan team.”

Meanwhile, as announced by the Financial Conduct Authority (FCA), Gary Pettit of PBC Business Recovery & Insolvency was appointed as administrator of the two financially troubled companies.

The FCA noted: “The administrator will update customers directly and via FAQs (frequently asked questions) on the PBC website. If customers have any specific queries in respect of the insolvency, they can contact the administrator using the [below] 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.”

According to assurances offered to customers, existing claims will be processed as usual and ongoing repairs will not be disrupted.

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