South Gloucestershire insurance broker forced to call in administrators

A South Gloucestershire broker which specialised in car insurance has gone into administration.

Verex Insurance Services Limited entered administration earlier this month and has since been bought by another insurer.

Gary Pettit of PBC Business Recovery and Insolvency Ltd was appointed as administrator last week.

Verex Insurance Services Limited (Verex) was an insurance broker that sold motor insurance products from a range of insurers.

The directors of the company took the decision to place the firm in administration.

One of Verex’s appointed representatives, Verex Assistance Limited, also entered administration at the same time.

Gary Pettit of PBC Business Recovery and Insolvency Ltd was also appointed administrator of the Appointed Representative.

Policies purchased through Verex have not been affected.

Car Care Plan Limited has since acquired the assets of Verex Insurance Services and Verex Assistance, which means they will take over the services previously provided by Verex.

Car Care Plan are market leaders in the provision of insurance products, which use manufacturer genuine parts and approved technicians when customers have a claim.

A spokesperson for Car Care Plan said: “Car Care Plan will take over the services previously provided by Verex to administer insurance policies.

“We want to reassure any customer that if you have paid your premium or if are still paying in instalments to Verex Premium Finance, your policy purchased via Verex is still valid and will continue to be covered as normal.

“We are delighted with the acquisition of the capabilities of Verex and we welcome Verex’s many talented employees to the Car Care Plan team.”