Insurer Sails Away

Manxies who have their motor insurance with Admiral will need to find a new insurer as the company is withdrawing its coverage on the island.

The company has cited changes to the law in Gibraltar which impacts on the Crown Dependencies.

Gef contacted the company after being told that the company had informed customers of withdrawing their services due to changes in the law.

A spokesperson for Admiral confirmed this to Gef and said it came into force on September 1.

They said: ‘The Government of Gibraltar has brought in new legislation – Financial Services (Prohibited Insurance) Notice 2023 – which means a Gibraltar insurer can’t enter into motor insurance contracts with customers located in the Channel Islands or Isle of Man. Both our car and van insurance products are underwritten by Admiral Insurance (Gibraltar) Limited so unfortunately, that includes us.

‘Our other insurance policies aren’t affected by this law change, so there won’t be changes to our customers with pet or travel insurance with us. Our existing customers who have a car or van policy with us will still be insured right up until their renewal date – even if that’s after September 1 – but once they get to their renewal date, they’ll need to insure their vehicle with another provider.

‘Customers are also still able to make changes to their policy right up to their renewal date, except adding another vehicle. New customers who live on the Isle of Man won’t be able to insure their car or van and our advisors will let them know if they call us, or they will be unable to continue with their quote online once they put in their address.’

For more information, see here: Motor insurance on the Channel Islands and Isle of Man – Admiral