Insurance firm forced to cease trading by FCA

Coventry-based Inspire Insurance Services has been forced to cease trading by the Financial Conduct Authority (FCA).

A statement on the company’s website says that the FCA has forced it to close “pursuant to section 55L of the Financial Services and Markets Act 2000”.

The statement adds@ “Inspire must not carry on any regulated activity or any business activity that is carried on in connection with a regulated activity, or held out as being for the purposes of a regulated activity (including not initiating any further business), without the prior written consent of the Authority.

“We sincerely apologise for the position this will put you in and would advise you that you will need to find an alternative broker to service your requirements moving forward.

Inspire was incorporated in February 2010.