FSCS in-default register

Prometheus Insurance Company Ltd

Declared in default27 January 2021FRN 207638

What this means for you

Because Prometheus Insurance Company Ltd has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.

Background

Prometheus Insurance Company Ltd, which traded as Tradewise Insurance Company Ltd (FRN: 207638), offered general insurance and contracts of insurance products to UK customers. The firm was declared in default by the Financial Services Compensation Scheme on 27 January 2021. Eligible policyholders may be entitled to compensation of up to 90 per cent of their claims with no upper limit under FSCS protections for insurance claims.

Products this firm wrote

General insuranceContracts of insurance

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.