The Gibraltar based insurance company Lemma Europe Insurance had been ordered by the Gibraltar regulator from making any claim payments. The insurer faces a winding-up order from the Financial Services Council (FSC), which will be heard in the Gibraltar Supreme Court and a liquidator will also be appointed.
It has been confirmed by a FSA spokesperson that UK policyholders with policies with Lemma are covered under the Financial Compensation Services Scheme.
It is worth mentioning that another Gibraltar based insurer Aldgate Insurance company has wound up in September 2009, leaving customers with outstanding claims.
It has been confirmed by a FSA spokesperson that UK policyholders with policies with Lemma are covered under the Financial Compensation Services Scheme.
It is worth mentioning that another Gibraltar based insurer Aldgate Insurance company has wound up in September 2009, leaving customers with outstanding claims.
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