List of insurers
Premium Choice insurer list
Product | Main insurer or Administrator of your policy | Insurance policy underwritten by | Car | Van | Courier | Specialist Vehicle | Bike |
---|---|---|---|---|---|---|---|
Motor insurance | Ageas | Ageas Insurance Limited | ✓ | ✓ | ✓ | ✓ | |
Motor insurance | ARK | Mulsanne Insurance Company | ✓ | ✓ | |||
Motor insurance | AXA | AXA Insurance UK | ✓ | ✓ | |||
Motor insurance | Bollington Underwriting, (Holava Underwriting, a trading name of Bollington Underwriting) | Underwritten by Accelerant Insurance Ltd. | ✓ | ✓ | |||
Motor insurance | Blagrove Underwriting Agency Ltd | Accredited Insurance (Europe) Limited | ✓ | ✓ | ✓ | ||
Motor insurance | Bollington Underwriting | Underwritten by AXA Insurance UK | ✓ | ✓ | |||
Motor insurance | Broker Direct | Accredited Insurance (Europe) Limited | ✓ | ✓ | |||
Motor insurance | Covea | Covea Insurance PLC | ✓ | ✓ | |||
Motor insurance | CPD Underwriting Solutions Ltd (an appointed representative of Broker Direct PLC) | Accredited Insurance (Europe) Limited | ✓ | ||||
Motor insurance | Eridge | QIC Europe Limited | ✓ | ||||
Motor insurance | ERS | ERS Syndicate 218 at Lloyds | ✓ | ✓ | ✓ | ✓ | |
Motor insurance | GEO Underwriting | Aviva Insurance Limited | ✓ | ||||
Motor insurance | Granite | Haven Insurance | ✓ | ✓ | ✓ | ||
Motor insurance | Highway | Highway Insurance Company Limited (Part of the Liverpool Victoria General Insurance Group) | ✓ | ✓ | ✓ | ✓ | |
Motor insurance | Insenture Underwriting | Zenith Insurance PLC | ✓ | ✓ | ✓ | ✓ | |
Motor insurance | KGM | QIC Europe Limited | ✓ | ✓ | ✓ | ✓ | |
Motor insurance | Kitsune (an appointed representative of Brightside Insurance Services) | Accredited Insurance (Europe Limited) | ✓ | ||||
Motor insurance | Liverpool Victoria | Highway Insurance Company Ltd. (Part of the Liverpool Victoria General Insurance Group) | ✓ | ✓ | ✓ | ✓ | |
Motor insurance | Markerstudy Insurance Services Limited | West Bay PLC | ✓ | ✓ | ✓ | ✓ | |
Motor insurance | Midas | Ageas Insurance Limited | ✓ | ||||
Motor insurance | Mulsanne | Complete Cover Group Limited / Hyperperformance Limited on behalf of Mulsanne Insurance Company | ✓ | ✓ | |||
Motor insurance | NIG | UK Insurance Limited | ✓ | ||||
Motor insurance | Novitas | Novitas Underwriting Agency Limited | ✓ | ||||
Motor insurance | Policyfast | Underwritten by AXA Insurance UK | ✓ | ✓ | |||
Motor insurance | Policyfast | Underwritten by NIG/UK Insurance UK Limited | ✓ | ✓ | |||
Motor insurance | Prestige Underwriting Services Limited | Aviva Insurance Limited | ✓ | ✓ | |||
Motor insurance | Pukka | New India Assurance Company Limited | ✓ | ||||
Motor insurance | Q Underwriting (also trading as TFP) | Underwritten by AXA Insurance UK | ✓ | ✓ | |||
Motor insurance | Sabre | Sabre Insurance Company Limited | ✓ | ✓ | |||
Motor insurance | Signature Underwriting (an Appointed Representative of Milestone Insurance Consultants Ltd.) | Markerstudy Insurance Company Limited (Part of Markerstudy Insurance Services Limited) | ✓ | ||||
Motor insurance | Somerset Bridge | Watford Insurance Company Europe Limited, Alwyn Insurance Company Limited and Southern Rock Insurance Company Limited | ✓ | ✓ | |||
Motor insurance | Tansar | Gefion Insurance A/S | ✓ | ✓ | |||
Motor insurance | XS Direct | Calpe Insurance Limited, Alwyn Insurance Company (Alwyn) and Watford Insurance Company Europe Limited (WICE). | ✓ | ||||
Motor insurance | Zenith | Zenith Insurance PLC and QIC Europe Limited (part of Markerstudy Insurance Services Limited) | ✓ | ✓ | ✓ | ✓ | |
Motor Insurance | Zurich | Zurich Insurance Group Limited | ✓ |
Optional extras for additional products and services
Product | Main insurer or Administrator of your policy | Insurance policy underwritten by | Car | Van | Courier | Specialist Vehicle | Bike |
---|---|---|---|---|---|---|---|
Legal Protection Claims Service | On Insurance | Financial & Legal Insurance Company Limited | ✓ | ✓ | ✓ | ✓ | |
Keycover | Keycare | Ageas Insurance Limited | ✓ | ✓ | ✓ | ✓ | |
Excess Cover | Nice 1 Limited | AXA Inter Partner Assistance | ✓ | ✓ | ✓ | ||
Breakdown | Autohome Limited | Autohome Limited | ✓ | ✓ | ✓ | ✓ | |
Breakdown | ERS | ERS Syndicate 218 at Lloyds | ✓ | ✓ | ✓ | ||
Breakdown | Hadleigh Breakdown | Trinity Lane Insurance Company Limited | ✓ | ✓ | ✓ | ||
Replacement Vehicle | Nice 1 Limited | UK General Insurance Limited on behalf of Great Lakes Reinsurance | ✓ | ✓ | |||
Theft Protect | Nice 1 Limited | UK General Insurance Limited on behalf of Great Lakes Reinsurance | ✓ | ✓ | |||
Windscreen | Markerstudy | Markerstudy Insurance Company Limited | ✓ | ✓ | |||
Goods In Transit | Policyfast | Underwritten by Aviva Insurance UK | ✓ | ||||
Goods In Transit | Bollington Underwriting, (Holava Underwriting, a trading name of Bollington Underwriting) | Underwritten by Accelerant Insurance Ltd. | ✓ | ||||
Goods In Transit | Bollington Underwriting | Underwritten by AXA Insurance UK | ✓ | ||||
Goods In Transit | Bollington Underwriting | Underwritten by Ageas Insurance UK | ✓ | ||||
Public Liability | Policyfast | Underwritten by Aviva Insurance UK | ✓ | ||||
Employers Liability | Policyfast | Underwritten by Aviva Insurance UK | ✓ |
Insurance Companies can be either rated or unrated. There are benefits and disadvantages to both, so it is best to be aware of the facts before you decide which type suits you and your situation best.
What is an unrated insurer?
There are several high-profile international ratings agencies, who assess the financial stability of insurers and other financial institutions. The most well known are Standard & Poor’s, Moody’s, Fitch and A.M. Best. Where an Insurer has chosen not to be assessed, they do not receive a rating and therefore are classed as “Unrated.”
Each agency has its own method of scoring, but the ratings are usually based on letters, to indicate the degree of credit risk posed. For example, an “A” rating means the insurer has access to plenty of credit and therefore easily able to meet claims. “C” rating indicates that the Insurer has poor ability to meet outstanding claims.
There is no legal requirement for an insurer to be rated and brokers are not restricted to only doing business with rated insurers. Although Premium Choice’s preferred option is to use rated insurers, in some situations, it may be in your interests to be offered rates from unrated insurers.
Both rated and unrated insurers are capable of going bust, however unrated insurers have a higher risk of failing.
Why do we offer policies from unrated insurers?
Sometimes, these policies may be the most appropriate to you and your circumstances;
- They may offer a very competitive and attractive premium.
- Sometimes, we may have no other option other than to offer you a policy from an unrated insurer.
- Some unrated insurers have been dealing in the UK for several years and are deemed to be less risky.
- Their reputation may be supported by the Financial Conduct Authority, who themselves also authorise rated insurers.
What are the disadvantages of using an unrated insurer?
- Unrated Insurers are at a higher risk of becoming insolvent and not being able to pay out on claims.
- They may lack the appropriate levels of financial stability.
- Some unrated insurers, many of whom are based in European countries, are not subject to the same solvency test and regulations as UK based insurers.
- The unrated insurer my be difficult to contact directly should an issue or a concern about a policy arises.
- Claims payments may be delayed.
The Financial Services Compensation Scheme
The scheme is designed to protect policyholders when UK – based insurance companies and other financial institutions become insolvent. The FSCS may pay some claims that a failed unrated insurer cannot meet, but will not offer 100% compensation in every case. For more information, visit https://www.fscs.org.uk/.