According to Insurance Times, who also reported that Gable had missed the Solvency II capital deadline.
Using unrated insurers may be seen as a breach of an insurance broker’s duty of care, and something we have taken the decision not to do.
If you are using an insurance broker who does use unrated insurers like Gable, and they aren’t providing you with a detailed analysis of the risks you take when choosing an unrated insurer then they aren’t doing their job properly.
It’s an industry standard that the inconsistencies presented by unrated insurers pose a significant risk to a client’s protection, meaning unrated insurers should never be used by respectable insurance brokers.
We only use rated insurers
As one of the leading insurance brokers in the UK, we only use rated insurers so our clients are never put into this kind of situation. By using properly rated insurers we can guarantee that there will never be a situation in which claims cannot be paid out.