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On 31 May 2019, LAMP entered into Liquidation following application to the Supreme Court of Gibraltar. The Official Receiver has been appointed as Liquidator, and has engaged the services of Grant Thornton Limited in Gibraltar.
LAMP operated in the UK on a freedom of services basis which means that some UK customers, may have a policy with the LAMP. The firm provided a range of insurance policies including home insurance, guaranteed asset protection (GAP) insurance, health insurance and ‘after the event’ legal expenses insurance.
If you are a LAMP policyholder you should note that your policy remains in force however as LAMP is insolvent it is likely the Liquidator will terminate those policies. If this happens, this will be communicated to brokers/policyholders in due course.
You should contact your broker in the first instance to seek advice on what you should do, and the options available for arranging alternative insurance cover if appropriate.
The Liquidator has appointed the financial services firm, Quest Consulting (London) Ltd, of 52-53 Gracechurch Street, London EC3V OEH, to administer insurance claims. If you have a claims query then this should be sent to [email protected].
Additionally, any other policyholder or broker enquiries in relation to LAMP or the liquidation should be directed to Grant Thornton Limited, PO Box 64, 6A Queensway, Gibraltar: [email protected], who will be writing to all LAMP policyholders with further information.
The FSCS will protect UK individuals and business consumers (with an annual turnover of less than £1m), further details about protection offered can be found on the website.
Further details can be found at GFSC.