An English woman has been denied an insurance payout because the policy was underwritten by an Icelandic firm whose licence has been withdrawn, reports The Daily Mail.
Roslyn Earle, 66, submitted a claim with her insurer Country Gentlemen’s Association (CGA) after flood water destroyed much of her Wiltshire home.
After filing her claim however she discovered that CGA brokers had placed her policy with European Risk Insurance which lists an Essex address but is based in Reykjavík.
The claim was rejected as Icelandic regulators had withdrawn European Risk Insurance’s licence amid concern the company did not have enough funds to meet its liabilities.
Mrs. Earle told the Mail that she has contacted Icelandic authorities but that no one has called her back.
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