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Alpha bankruptcy pushes CRL to stop writing new business

Alpha bankruptcy pushes CRL to stop writing new business | Insurance Business

Alpha bankruptcy pushes CRL to stop writing new business

Last year construction insurance specialist CRL Management Ltd described the collapse of Danish provider Alpha Insurance A/S “an unfortunate affair” that has left them bruised. Now it looks like CRL has been a dealt a stronger blow.

“FSCS has been recently made aware that CRL has stopped writing new business,” stated the Financial Services Compensation Scheme in a September 12 Alpha Insurance update. “All calls and enquires to CRL relating to Alpha are being redirected to BCR for handling.”

Read more: Alpha Insurance latest – replacement cover deal falls through

The compensation body was referring to BCR Legal Group Ltd, which sold Alpha Insurance latent/structural defects insurance policies in the UK. CRL was an appointed representative of BCR.

Meanwhile, the FSCS added that BCR has offered assurances that Alpha Insurance-related queries are being dealt with as normal.