Gibraltar-based Lamp Insurance Company has collapsed, the UK’s Financial Services Compensation Scheme (FSCS) confirmed on 5 June.
Jimmy Barber, chief operating officer at the FSCS, said: “We are still in the process of identifying how many UK customers are affected by the failure of Lamp Insurance.
“We are working closely with the liquidators to make sure that all eligible policyholders affected by the failure of Lamp are compensated accordingly.”
The firm provided a range of insurance policies to the UK retail and commercial market, including home insurance, Gap insurance, health insurance and after-the-event insurance.
UK customers have been advised to visit the Lamp website for more information.
At present, however, the website only confirms the official liquidation of the company on 31 May, the name of the official receiver – Grant Thornton – and provides contact details for enquiries.
Last ditch sale attempt
Lamp was authorised and regulated by the Gibraltar Financial Services Commission (GFSC) and, in addition to the UK, provided a range of products to policyholders in Europe and Asia.
The firm offered expat and local health insurance, and provided access to international treatment.
The firm submitted an application to the Supreme Court of Gibraltar in May to appoint an official receiver and place the firm into liquidation.
At the time, the company said it was still considering all options, “including a potential sale of the business”.
