Tribune offered various types of general insurance and was operating without authorisation from the FSA. The company has no reserves or provisions in place to meet any claims which might be made or already have been made. The majority of policies relate to home insurance.
The FSA is therefore warning around 40,000 policyholders who have taken out household and buildings insurance with Tribune (other than those holding Tribune Diamond policies) that they are likely to have no effective cover. We would urge all policyholders with a Tribune household insurance policy to contact their insurance broker or agent immediately to arrange replacement cover.
The provisional liquidators have set up a Helpline. Any queries, including in respect of outstanding claims, should be addressed to the Helpline on 0870 164 8120.
Network Data offers immediate cover to stranded homeowners
Following the collapse on December 11th of Tribune Risk and Insurance Services, 40,000 homeowners have been told that the company had been put into liquidation and their household insurance policies are worthless.
Network Data has arranged to provide same-day cover via Heath Lambeth, pending receipt of a new application form.
Brokers who had placed clients with Tribune should contact Chris Knight, Insurance Manager at Network Data with a list of names and addresses of the clients requiring immediate cover.
fax: 01932 875802
email: [email protected]