Enterprise Insurance customers set to receive compensation

Thousands of customers of Enterprise Insurance which collapsed on Friday are being offered compensation from the underwriting agency that distributed its motoring policies here.

Wrightway Underwriting Ltd has said it will make ex-gratia payments to Enterprise’s customers to cover the cost of premiums from now until the end of their current policy contracts.

Last Friday, the Gibraltar Financial Services Commission took winding-up proceedings against Enterprise, and its authorisation to write new insurance contracts was suspended. The company has 14,000 customers here.