Mulsanne Insurance Company Limited is a private company, limited by shares incorporated in Gibraltar and registered with the Registrar of Companies under company number 101673 with its registered office at 5/5 Crutchett’s Ramp, Gibraltar, GX11 1AA.
Authorised by the Gibraltar Financial Services Commission to carry on insurance business under the Financial Services Act 2019 and Financial Services (Insurance Companies) Regulations 2020, and authorised co-insurers.
They are subject to regulatory oversight in their own country and are an unrated Insurer.
It is an insurer who has not been given a financial strength rating by an international rating agency. I.e., Standard & Poor’s 500 index, Moody’s, Fitch ratings and A.M. Best.
These agencies provide an assessment of the financial strength of an insurer and most importantly, its ability to pay claims. Unrated insurers may present a greater risk of failure, leaving customers uninsured and exposed to financial loss.
We want to let you know what this means to ensure you make an informed choice about whether to purchase a Mulsanne policy or not.
Unfortunately, there is no guarantee with the financial stability of any insurer, rated or non-rated.
However, our aim is to provide you with a service where there is no noticeable difference.
As you know, anyone who wants to drive a car in the UK must arrange car insurance before doing so as a legal requirement.
We want our insurance to provide you with peace of mind, security and protection should a potential incident occur. So, we work very closely with all our insurers and only use those which have representation and claims handlers in the UK.
We closely monitor their claims processes to ensure they meet both our expectations as well as the needs of our customers.
Mulsanne Insurance Company and Dayinsure.com Limited are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we are unable meet our obligations. This depends on the type of business and the circumstances of the claim. Further information about compensation scheme arrangement is available from the FSCS at www.fscs.org.uk.
There are no legal requirements for Insurers to be rated. Many unrated insurers have been trading in the UK for several years so are not deemed risky.
Unrated insurers are typically based outside of Europe and are not always held to the same solvency tests and regulations as UK or EU based insurers.
Their reputation may be supported by the Prudential Regulatory Authority and the Financial Conduct Authority which are the same authorities that endorse A-rated insurers.
Both rated and unrated insurers are capable of collapsing, but statistically it is the unrated insurers that present a greater risk.