Alpha Insurance A/S has been bankrupted on 8 May 2018.
FSCS is working with CRL Management, the Alpha Liquidator and the Danish Guarantee Fund to facilitate replacement cover for Alpha latent defect policies that terminated on 11 August 2018 as a result of the Alpha bankruptcy. FSCS may be able to pay compensation to secure replacement cover for policies in relation to properties located in the United Kingdom where a post-completion certificate was issued by 11 August 2018. The replacement cover would be backdated to begin from when the Alpha polices terminated.
FSCS are unable to compensate, or facilitate replacement cover for, Alpha policies taken out by developers where cover was not activated by a homeowner purchasing the property before 11 August 2018.
Policies in relation to foreign properties will not be included; under our rules FSCS cannot provide compensation in relation to risks insured by Alpha that are located outside of the UK.
19 November 2018