The Gibraltar based professional indemnity insurer Enterprise Insurance has collapsed.
Enterprise has been an important insurer in the solicitors’ professional indemnity insurance market and insures many of the UKs law firms.
Policyholders have been told that for the time being their policies will remain in force and that more information will be given in due course.
This causes uncertainty for any solicitors insured with them and our recommendation to any policyholder insured with Enterprise is to get some good advice immediately.
Mark Bracher of PI specialist Professional Indemnity Insurance Brokers comments "Remaining insured with an insolvent insurance company is a far from ideal position to be in, especially if you need to make a claim on the policy. They are hardly going to be keen to write cheques for large sums".
We are happy to provide free advice to any law firm affected by this news, so please call us on 0345 251 4000.
More information about the collapse of Enterprise Insurance is available on their website www.eigplc.com.