Tuesday, 30 August 2011

FSC issues public warning on insurance company

GIBRALTAR (Press release) The Financial Services Commission has issued a warning to the public regarding "Unique Car Insurance". The FSC has received information that this entity is operating a website under the name of "Unique Car Insurance" and offering to provide short-term motor insurance in the United Kingdom to drivers under the age of 21. It claims that "Unique Car Insurance 17+ is Limited company who are (sic) authorised and regulated by the Financial Services Commission in Gibraltar." "Unique Car Insurance" is not regulated by the FSC, or licensed under the Financial Services (Investment & Fiduciary Services) Act 1989, or the Financial Services (Insurance Companies) Act 1987, to carry on insurance mediation or insurance business in or from within Gibraltar. "Unique Car Insurance" is not a Gibraltar registered company or a trading name registered under the Business Names Registration Act. The FSC therefore urges the public to exercise appropriate caution in respect of this entity, whilst it continues its investigations. The public is able to verify whether a firm is licensed by the Gibraltar FSC, by checking the "Regulated Entities" section on the FSC website. Any persons who are already involved in any dealings with the above entity and have concerns, should contact the Manager, Enforcement on +350 200 40283 or by e-mail to enforcement@fsc.gi. CampoPulse has been unable to make contact with Unique Car Insurance and the entity's website is not listed.

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