On 18 August 2023 Verex Insurance Services Limited entered administration. Gary Pettit of PBC Business Recovery and Insolvency Ltd was appointed as administrator.
Verex Insurance Services Limited (Verex) is an insurance broker that sold motor insurance products from a range of insurers. The Directors of the company applied to place the firm in administration.
One of Verex’s Appointed Representatives, Verex Assistance Limited, also entered administration on 18 August 2023. Gary Pettit of PBC Business Recovery and Insolvency Ltd was also appointed administrator of the Appointed Representative.
Policies purchased through Verex are not affected, further information for customers is below. Car Care Plan Limited have acquired the assets of Verex Insurance Services Ltd and Verex Assistance Ltd, which means they will take over the services previously provided by Verex.
Being alert to scams
All customers should be alert to the possibility of fraud. If you are cold called by someone claiming to be from Verex or the administrator, please end the call and use the contact details above if you need to speak to someone.
Is the FCA overseeing the administration?
Verex Insurance Services Limited is still authorised by the FCA and remains subject to supervisory oversight and the FCA’s rules. The administrator is an officer of the Court and must comply with relevant insolvency law. Gary Pettit is authorised to act as an insolvency practitioner by the Institute of Chartered Accountants in England and Wales and is responsible to that body and to the Insolvency Service.
Car Care Plan Limited is also authorised by the FCA and subject to supervisory oversight and the FCA’s rules.