SPECIALIST motorcycle insurance firm MCE has gone into administration, with its underwriter confirming that an investigation will now be carried out to evaluate the viability of the business.
A statement from the broker said:
“The company will not be writing any new policies. The joint administrators are working closely with [underwriter] Sabre to find a resolution that minimises any disruption to existing policyholders and ensures they are treated fairly.
“All customers’ existing policies remain in place; they will continue to have cover and are not impacted by the appointment of the joint administrators. There is, therefore, no action customers need to take. Sabre is not affected by this administration and will continue to meet valid claims made under existing policies.”
The company insured across both two and four-wheels, although it is probably best known to UK riders for its bike business, fronted by the comedy character ‘Big Ed', a caricature that appeared at British Superbike rounds on the podium when MCE was the title sponsor.
MCE was keen to point out that failure to pay direct debit payments and renewals on policies could result in the cancellation of a customers policy and went on to confirm via its underwriter, Sabre, that policies are still in force and would protect customers in the event of a claim.
MCE officially went into administration in June, with the first reports appearing in specialist press outlets around a week ago.
It’s important to note that this relates to MCE Insurance Ltd, the UK-based broker of MCE, not MCE Insurance Company Ltd, which is the Gibralter-based arm of the business. MCE Insurance Company Ltd was reported to go into administration in November 2021.
If you are a customer and wish to seek more information, Crowe UK has been appointed as the administrator of the business and can be reached via: Crowe.MCE@crowe.co.uk
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