Motorcycle Insurance Broker MCE Enters Administration
MCE, a company that sells insurance for motorcycles, has run into financial trouble and is now going into administration. The special motorcycle insurance company called MCE is facing financial problems and has now gone into administration.
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| Motorcycle Insurance Broker MCE Enters Administration |
The company that supports MCE, called Sabre, will investigate the situation to see if the business can still work well.
MCE won't be offering any new insurance policies for now. The people in charge of the company during the administration are working closely with Sabre to find a solution that causes the least trouble for current customers. They want to make sure the existing policyholders are treated fairly.
Motorcycle Insurance Broker MCE Enters Administration - 2023 Guide
If you already have a policy with MCE, don't worry because it will still be valid. Your insurance coverage will continue as usual, and the administration doesn't affect your policy.
You don't need to do anything right now. Sabre, the supporting company, will still handle and pay out valid claims made under existing policies as before.
The company provided insurance for both motorcycles and cars. Many people in the UK knew the company well for its motorcycle insurance, especially because of the funny character named 'Big Ed.' This character was like a joke and appeared at motorcycle racing events sponsored by MCE.
MCE wanted to make sure customers understood that if they didn't pay their insurance through direct debit or didn't renew their policies on time, their insurance could get canceled. However, MCE also confirmed that policies are still active and would protect customers if they needed to make a claim.
MCE officially faced financial difficulties and went into administration in June. The news about this situation started to come out in special news outlets about a week ago.
It's essential to understand that the news is about MCE Insurance Ltd, which is the UK-based part of the company, not MCE Insurance Company Ltd, which operates in Gibraltar. MCE Insurance Company Ltd had already faced financial difficulties and went into administration in November 2021.
If you are a customer and want to find out more information, Crowe UK has been chosen to handle the administration of the business. You can get in touch with them at: Crowe.MCE@crowe.co.uk.
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