Are You A Scaffolder Insured With Gable?

As you may have heard in the news, Gable Insurance has been placed into administration due to its inability to meet the new Solvency II requirements.  We know that a number of Scaffolding companies are insured with Gable.

At present there is no indication that Gable will not be able to fully meet their obligations and pay claims.  However the Financial Services Compensation Scheme has stated that it will step in, should the need arise. This is welcome news for private individuals and some small businesses. However the scheme is only applicable to small firms with a turnover of less than £1M. There is no protection for larger firms.

What This Means For You

At the time of writing, we believe that policies will be allowed to run until their normal expiry date when they will need to be replaced with another insurer. Provided that there remain sufficient monies to meet the claims ( and that principal contractors remain confident that the policies of their sub contractors will pay out), then there would be no necessity for any Scaffolding Company to find new insurance before then. 

What Next?

If you are insured with Gable, then your insurance broker will probably be in touch shortly. We will be monitoring the situation closely and will post an update, should the picture change.

Need Some Advice?

As one of the UK’s largest Scaffolding Insurance Brokers, Amicus are always happy to offer advice to any scaffolder who has concerns or questions on any insurance related matter, and should the need arise, we can arrange cover within 24 hours.

Contact Us Today

Our Experienced Team Are Waiting For Your Enquiry. Contact us today or ring our team directly:
Adam Scott 07950 034 944
Richard Evans 07528 189 660