FSA warns motorists over fake car insurance firm

Fri, 12 Aug 2005



The Financial Services Authority (FSA) has put out a warning to motorists of a fake company that has been selling car insurance.

Anyone who has a policy with H &O Insure are being told to get adequate cover with another insurer immediately, as their insurance policy with this company may not be valid. There is a risk that some drivers who think they are covered may be driving illegally.

The FSA said "H&O Insure Limited claim to be based at 4 Equity House, 42 Central Square, Wembley, HA9 7AL. This address is empty and awaiting demolition and there is no trace of the company on the register maintained by Companies House. The company is not authorised by the FSA to act as an insurer so their policies are invalid."

They added "Drivers who have bought motor cover through this company may be committing a criminal offence by driving without valid insurance."

According to the FSA, it is known that H &O have issued policies in the Birmingham area, but they don’t know how widespread the problem is.

Driving without valid insurance is an offence and it is irrelevant if this is done intentionally or not. However another implication is that if a car accident occurs the driver of the car can be sued for damages which can amount to tens of thousands of pounds.

The FSA has asked anyone who had contact with H &O to call them on 0845 606 1234.
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