Non-admitted insurance in UK?

Question

Is it possible to purchase insurance policies from non-admitted insurers in United Kingdom?

Please also advise on where can I find the Insurance Act stating the above?

Answer 1

I dont quite understand what you mean non admitted, but all insurance companies are now regulated by the Financial Services Authority, you could go onto their website to see if there is anything that answers your question

Answer 2

No you can't it's illegal to sell insurance in the UK without a licence. Non admitted insurers are usually only found in countries where the local insurance market can't cope with all needs.This isn't the case in the UK since London is pretty much the insurance capital of the world.... if you can't insure it here you can't insure it anywhere, so there's no need for non-admitted insurers.

Even if you did buy your insurance from overseas, you would have the following problems

1) It wouldn't be legally acceptable under UK law, so for motor the Police would regard you as uninsured and it's unlikely to be acceptable to any mortgage/loan company should they require it.

2) You have no consumer protection or compensation rights.

3) No reputable company would operate in this manner, so anyone offering is bound to be dodgy.

Try looking at the Insurance Companies Act 1982(?) and the Financial Services and Markets Act 2000 I think they cover all of this.