Insurance policies

Canceled MCE Insurance Policies – An Update

MCE Motorbike Insurance’s 105,000 policyholders will lose coverage – what this means for you.

MCE Insurance Company, which was one of the UK’s leading motorcycle insurers, will terminate all of its remaining 105,000 policies after it entered administration last year. Despite the insurer’s initial commitment to maintain existing coverage, decisions were made to cancel all remaining policies.

For policies taken out before November 9, 2021, this means:

  • Automobile or light truck insurance coverage will end at midnight on January 14, 2022.
  • Motorcycle or scooter insurance coverage will end at midnight on January 31, 2022.

Your MCE insurance policy will remain in effect until these dates and you will receive pro-rated reimbursement from the Financial Services Compensation Scheme (FSCS) for 90% of the unused months on your policy. You will be reimbursed by a check which will be; arrive by post.

Who is entitled to a refund?

All MCE Insurance customers who have taken out policies before November 9, 2021 may claim partial refunds. Customers affected by the breach will be 90% refunded of all months unused on their policy according to the Financial Services Compensation Scheme (FSCS).

You DO NOT having to do anything; a check from the FSCS will automatically arrive in the mail.

What happens to my non-complaints?

I personally spoke directly with 5 bikers, all of whom informed me that they had direct conversations with MCE that non-complaints would be honored. However, be sure to contact MCE on hearsay don’t count on. Expect long call wait times, so put your favorite TV show in the background.

What should I do if I have an ongoing claim with MCE?

If you have recently had an accident and made a claim with MCE, you will not need to do anything, but the FSCS will contact you about your MCE claim instead. Indeed, priority claims have been transferred to the regime, which now manages them.

When an insurance provider goes bankrupt, its policies will continue under the supervision of a new insurer or end prematurely. If your insurance policy ends prematurely, the FSCS protects 90% or 100% of your prorated insurance premium until the end of the contract, depending on the conditions.

If your claim is valid, the FSCS will reimburse you. If you need to make a claim before your policy expires, contact MCE as soon as possible.

You can do this using the live chat toolE-mail [email protected] or call 0193 335 1361.

Why is my motorcycle policy terminated?

MCE Insurance Company, currently known as Green Realizations 123, sold a range of insurance cover, ranging from motorbike, private car and even van insurance, through broker MCE UK. However, both companies were part of the same parent group.

Unfortunately, it turned out that this parent group went live on November 19, 2021, with consultancy firm Kroll being appointed administrator, leaving many bikers uninsured.

At the time, the company said that all previous MCE Insurance Company insurance policies would continue until they expired. However, the insurer has informed customers that their coverage will be terminated due to the “financial situation.

I’m panicking about my insurance, what should I do?

Those who have subscribed to MCE policies since November 9, 2021 are not affected because their insurance is underwritten by Saber Insurance Group, not by MCE itself.

If this is the case for you, you will continue to be insured and can make changes to the policy or make claims as normal by contacting the company’s broker, MCE UK.

If you have questions about your refund, FSCS Online Chat Service should be able to help.

If your policy was taken out before November 9, 2021l, if you wish to continue riding your motorcycle after these dates, you will need to take out new cover as it is illegal to drive without insurance.

Legal disclaimer: I am not a qualified professional. I’m an amateur nerd just trying to put the info together to help the biker community. Make sure you always verify the information relating to your personal situation and do not rely on my advice.

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