FSA warns about unauthorised motor 'insurer'
FSA/PN/088/2005
10 August 2005
The Financial Services Authority is warning consumers about a company called 'H&O Insure Limited' which it believes is offering invalid motor insurance policies to the general public. Policies issued under this name have come to light in the Birmingham area, but the extent and location of all the sales of such policies are not known.
H&O Insure Limited claim to be based at 4 Equity House, 42 Central Square, Wembley HA9 7AL. This address is empty and awaiting demolition and there is no trace of the company on the register maintained by Companies House. The company is not authorised by the FSA to act as an insurer so their policies are invalid.
Anyone who deals with an unauthorised firm does not have access to the financial services compensation and complaints schemes. Drivers who have bought motor cover through this company may be committing a criminal offence by driving without valid insurance cover.
The FSA advises that anyone who has bought cover through H&O Insure Limited to arrange alternative cover immediately. The FSA would also like anyone who has had contact with H&O Insure Limited to contact the FSA on 0845 606 1234 to help with their enquiries.
Notes to editors
- A warning to consumers can be found on the FSA's consumer website
- The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and fighting financial crime.
- The FSA aims to promote efficient, orderly and fair markets, help retail consumers achieve a fair deal and improve its business capability and effectiveness