Elite Insurance Company Limited (in Adminstration) - FAQs

The correspondence is genuine and comes from the Joint Administrators of Elite Insurance Company Limited (in Administration).

Elite was placed into Administration by the Supreme Court of Gibraltar on 11 December 2019, with Edgar Lavarello and Dan Schwarzmann, both at PwC, appointed as Joint Administrators on the same date. The Joint Administrators are licensed insolvency practitioners.

The correspondence contains important information about Elite's proposed Scheme of Arrangement (Scheme). We encourage you to read it carefully and review the documents on the website.

Important: Neither Elite, PwC, nor the Administrators will ever ask you to make a payment. Any request for payment should be treated as fraudulent.

If you are concerned about the authenticity of any correspondence, please contact us at:

Email: elite-insurance.scheme@quest-group.co.uk

Phone (UK Freephone): 0800 327 7278

Phone (France/EU): +33 805 98 54 71

There are several reasons why you may have received this correspondence:

1. You may be a beneficiary under someone else's policy. Some insurance policies, particularly those relating to construction warranties and insurance-backed guarantees, attach to the building or specific item covered rather than to an individual or may have been transferred as part of the property’s sale. This means you may be entitled to claim under a policy taken out by another party (such as a developer, builder, or previous owner), even if you did not personally purchase the insurance policy. 
2. The policy may have been purchased or arranged through an intermediary. Elite sold policies through third-party intermediaries called "coverholders" and in the case of After The Event (ATE) insurance through solicitor firms. You may have purchased or been issued an insurance policy without realising Elite was the underlying insurer. 
3. You may have a claim as a third party. Third parties eligible to claim under another party's policy may also be affected by the Scheme.

The policy may attach to the property, not the person. Some insurance policies, particularly those relating to construction (such as building warranties) or insurance-backed guarantees, attach to the property rather than to an individual. This means the current owner or occupier of a property may be entitled to claim under a policy originally taken out by a developer, builder, or previous owner.

You may be a beneficiary or third party with rights under the policy. Even if you are not the named policyholder, you may still have the right to make a claim under someone else's policy. For example, if you purchased a property that was covered by an Elite construction warranty policy, you may be entitled to claim as a beneficiary under that policy.

Records may be incomplete or outdated. Elite's records were created at the time the policies were issued, pre-2017 in most cases, and the named policyholder may no longer own the property or may have passed away. In such cases, correspondence may have been sent to the address associated with the insured property.

If you believe the correspondence relates to you or your property, we encourage you to register your interest in the Scheme at reg.ips-docs.com/Registration (enter code EliteScheme26 when prompted). This will allow you to keep up to date with the progress of the Scheme and give you access to the Creditor Portal, where you can submit claims and vote on the Scheme.

If the original policyholder has passed away, this does not necessarily mean the policy has lapsed as a result or that any potential claim under a policy with Elite is lost. The rights under an Elite insurance policy may pass to the policyholder's estate or to a beneficiary. Whether this has happened depends on the wording of the relevant policy and should be considered on a case-by-case basis. 

For policies that attach to a building: Some insurance policies, particularly construction and insurance-backed guarantees (IBG), may attach to the building rather than the individual. This means the current owner of the building may be entitled to make a claim.

For other policies: If the policy was held personally by the deceased, the right to make a claim may have passed to their estate. The executor or administrator of the estate may be entitled to submit a claim on behalf of the estate.

If you believe you may have a claim under a policy where the original policyholder has passed away, we encourage you to register your interest in the Scheme by completing the Registration Form at reg.ips-docs.com/Registration (enter code EliteScheme26 when prompted). This will allow you to keep up to date with the progress of the Scheme and give you access to the Creditor Portal, where you can submit claims and vote on the Scheme.

Please provide the full name of the deceased policyholder in the “policy holder name” section if available. 

Registering for the Scheme does not affect your legal rights - it simply ensures you receive updates and information about the Scheme process. 

If the Scheme becomes effective, Other Direct Insurance Creditors must submit a claim before the Claim Submission Deadline (expected to be in Q4 2026). If you do not submit a claim before this deadline, you will not be entitled to receive any payment from Elite and will have no further rights against Elite. 

The easiest way to keep informed about the Scheme is to complete the Registration Form at reg.ips-docs.com/Registration (enter code EliteScheme26 when prompted). This will allow you to keep up to date with the progress of the Scheme and give you access to the Creditor Portal, where you can submit claims and vote on the Scheme.

No, simply submitting a claim or voting on the Scheme does not affect your legal right. 

If the Scheme is approved by the required majority and sanctioned by the Court, it will become binding on all Scheme Creditors, even if you did not vote or voted against it. Once the Scheme takes effect, you cannot opt out. If the Scheme is implemented, it will affect your legal rights against Elite, and it will affect the legal rights of the two groups of Scheme Creditors differently. The Scheme does not affect the legal rights of Elite’s creditors who are not Scheme Creditors, for example, trade creditors.

If you have further questions about how the Scheme may affect your rights, we recommend you seek independent legal advice.

Elite is a company registered in Gibraltar. It was incorporated in 2004 and was authorised and regulated by the GFSC to write insurance products in both the commercial and retail markets across Europe.  

On 4 July 2017, Elite ceased to be authorised to enter into new contracts of insurance or renew existing contracts of insurance and entered run-off. 

On 11 December 2019, Elite went into administration. Edgar Lavarello and Dan Schwarzmann were appointed as Joint Administrators on the same date.

An administration is an insolvency procedure, where licensed insolvency practitioners take charge of the company’s business and affairs with a view to pursuing certain objectives. The objectives are as follows:

• rescuing the company as a going concern; or

• achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being in administration); or

• realising the company’s assets to pay a dividend to secured or preferential creditors. 

The purpose of Elite’s administration is to achieve a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being in administration). 

The Joint Administrators are Edgar Lavarello, a Partner of the Gibraltar firm of PricewaterhouseCoopers Limited, and Dan Schwarzmann, a Partner of the UK firm of PricewaterhouseCoopers LLP.

The Joint Administrators have disclaimed (terminated) certain of Elite's insurance policies. Following the disclaimer, they are now proposing a Scheme, which allows for an earlier and greater distribution to creditors than would otherwise be possible.

We have contacted you because we believe you may be:

• a current or former policyholder of Elite who may have a claim; or
• another party involved in the Scheme claims process on behalf of a claimant; or
• a compensation scheme authority (such as the FSCS) with a subrogated claim.

If any of the above applies to you, you may be affected by the Scheme and entitled to vote on it.

A scheme of arrangement is a legally binding agreement between a company and its creditors (or a group of creditors). In order to take effect, a scheme of arrangement needs to be approved by Elite’s creditors and the Court. 

In this case, you may be a creditor of the Scheme if you have a valid actual or contingent direct insurance claim against Elite. 

If the Scheme is approved by the Court and creditors, creditors will have six months from the date the Scheme becomes effective to submit their claim. This is known as the Claims Submission Deadline and is expected to fall in Q4 2026.

The Joint Administrators have explored in detail various options to resolve Elite’s affairs and having carefully considered possible alternatives, they have concluded that the Scheme is in the best interests of Scheme Creditors as a whole. 

This is because, if it is implemented, the Scheme would:

1. allow for an earlier distribution of money from Elite;
2. provide for the assessment, valuation and payment of claims against Elite in a way that is efficient and fair as between the Scheme Creditors; and
3. avoid additional costs involved in keeping Elite’s insolvency process open.

If the Court gives Elite permission to convene the Scheme Meetings, creditors will be invited to consider, and vote on, the Scheme.  
 
The Scheme will bind the company and all the creditors affected if:

1) it is approved by: 

• a majority in number, that means more than 50% of the creditors who vote on the Scheme; and
• those creditors which when combined, represent 75% or more in value of the claims of creditors who vote in favour of the Scheme; and

2) the Court approves the Scheme at a Court hearing.

All creditors who are affected by the Scheme should now have received a notification inviting them to submit a claim and vote. If creditors vote to approve the Scheme, the Court will consider whether to approve it and, if they do, the Scheme will become binding on all Scheme Creditors.

Scheme Creditors have until 5pm (CEST) on 6 May 2026 to submit a vote via the Creditor Portal. 

If the Scheme is approved by the required majority of creditors and sanctioned by the Court, it will become binding on Elite and all Scheme Creditors, whether or not they voted, and regardless of how they voted.

Yes, this is still relevant to you if you:

1. have a claim against Elite that arose before your policy expired; or
2. your rights to bring a claim are still within the relevant notification period under your insurance policy or statute of limitation.

The Scheme is managed through a Court process which takes time to complete. There are four key stages.

13 March 2026: Elite applied to the Supreme Court of Gibraltar for permission to convene meetings of its creditors whose legal rights would be affected by the Scheme to consider, and if thought fit, approve the proposed Scheme. On 13 March 2026 at a hearing known as the Convening Hearing, the Court granted Elite permission to convene the Scheme Meetings.

7 May 2026: As above, on 13 March 2026, the Court granted Elite permission to convene the Scheme Meetings, which are expected to take place on 7 May 2026. Elite has made available more detailed information to creditors about what it proposes under the Scheme and information on how to submit a claim and vote on the Website. The two Scheme Meetings are expected to start from 10AM (CEST) on 7 May 2026. The date will be confirmed in the correspondence issued to you and as available on the Website. 

End of May 2026: If the required majorities of Scheme Creditors vote in favour of the Scheme, Elite will ask the Court to approve the Scheme at a second Court hearing, which is currently expected to take place around the end of May 2026. If the Scheme is approved at this hearing, this is the date upon which the Scheme will become effective and this date is known as the Scheme Effective Date. 

November 2026: If the Scheme is sanctioned, the Claims Submission Deadline for Other Direct Insurance Creditors to submit Claim Forms into the Scheme will be approximately six months after the Scheme Effective Date. This is estimated to be in November 2026. Failure to submit a claim before the deadline means Scheme Creditors will not be entitled to receive any payment from Elite.

H1 2027: Payments to Scheme Creditors with valid Scheme Claims are currently expected to be made in H1 2027.

Once the Court gives Elite permission to convene the Scheme Meetings of the relevant creditors, you will be invited to vote on the Scheme.

At this point, further documents will be made available to you, including the Scheme Document and the Explanatory Statement, which will include details on how to value and submit your vote and claim, and attend the Scheme Meetings.

The easiest way to vote and make a claim in the Scheme will be via the Creditor Portal which we will share further details on in due course. 

Creditors who register using the Registration Form here will be emailed with a unique portal ID to access the portal. This will only be once the Scheme Meetings have been arranged.

If the Scheme is not approved, the most likely alternative scenario is that Elite would enter into liquidation. This could result in: 

• a significant delay in a distribution to creditors; and
• additional costs (of the liquidation) being incurred resulting in a lower return for creditors. 

In a liquidation, FSCS Protected Creditors’ policies would likely be disclaimed as soon as possible. This is likely to result in the FSCS declining to provide continuing protection for claims arising after a disclaimer. It is understood that FSCS Protected Creditors, would therefore only receive a prorated return of premium based on the unexpired portion of their policies from the FSCS, rather than any payment of claims.

The Joint Administrators and the Creditors’ Committee therefore believe that it is in the Scheme Creditors’ best interests to vote in favour of the Scheme.

This is the deadline by which Other Direct Insurance Creditors must submit a claim and provide supporting information in order for it to be assessed, valued and paid in the Scheme.

If an Other Direct Insurance Creditor fails to submit a claim before the Claims Submission Deadline they will not be entitled to receive any payment from (or have any further rights against) Elite.

The Claims Submission Deadline will be 5pm (Central European Time) on the first working day falling 180 calendar days after (and not including) the date on which the Scheme becomes effective. We currently estimate this will fall in November 2026

Yes, you should read all of the correspondence carefully and follow the instructions on how to access the legal documents on the website www.pwc.co.uk/elite-insurance. You should consider the information on the website carefully and, if appropriate, seek independent legal advice.

We kindly request that you register for the Scheme using the Registration Form linked here. 

The Creditor Portal is the easiest and most secure way to vote on the Scheme, submit a claim, and track the progress of your claim. It is also the most secure way to share any information that may be required to support your claim.

The Practice Statement Letter is a letter that explains the proposed Scheme of Arrangement between Elite and its direct insurance creditors, and how it will affect your legal rights and claims against Elite. The Practice Statement Letter also provides information on how you can vote on the Scheme in due course, and how you can access further information and guidance.

1. Click on the link here, this is the same URL as in your cover letter. 
2. Click on the lock button or Register at the top of the page. 
3. Enter code EliteScheme26 which will take you to the Elite Registration Form.  
4. Add your contact details and policy details. 
5. Click submit at the bottom of the page.  

You will receive an email confirming your registration within 48 hours. Following this, you will be sent login information for the Creditor Portal, where you can submit claims and vote on the Scheme.

The Explanatory Statement is a document that provides more detailed information on the Scheme, its background, its effects, and its alternatives. 

The Explanatory Statement is available on the Website.

Where a Scheme affects the legal rights of creditors differently, so that they cannot consult with one another, they are required to be split into different groups, also known as classes. 

For more information on the different Scheme classes please refer to section B: Scheme Creditors. 

Quest Consulting (London) Limited (“Quest”) is Elite’s appointed “Run-off manager”. They are responsible for handling, assessing and valuing claims on behalf of Elite as well as dealing with any queries or complaints. 

We sent letters and/or emails to all known Elite creditors who we believe may be affected by the Scheme. However, Elite's records may be incomplete or outdated, so it is possible that some creditors did not receive correspondence.

If you believe you have a valid claim against Elite but have not received any correspondence, you should:

Contact Quest as soon as possible at elite-insurance.scheme@quest-group.co.uk; and

Register for the Scheme using the Registration Form here.

All Scheme documents are available on the website at http://www.pwc.co.uk/elite-insurance. You should consider their contents carefully and, if appropriate, seek independent legal advice.

You should consider their contents carefully and take legal or other advice if you consider it appropriate to do so. 

You should also check the Website here regularly for updates and further information on the Scheme. 

We kindly request that you register for the Scheme using the Registration Form here.

The Creditor Portal is the easiest and most secure way to vote on the Scheme, submit and track your claim, and share any supporting information that may be required.

If you did not receive a Practice Statement Letter, but you believe that you are or may be a direct insurance creditor of Elite, or another party involved in a Scheme claim you should register your details on the Creditor Portal. 

We kindly request that you register for the Elite Scheme using the Registration Form linked here. 

This is the most effective way to keep up to date and monitor progress of the Scheme and ultimately any claim. It is also the most secure way to share information with us.

Alternatively, you can contact Quest using the details outlined in section G. You should provide your name, address, policy number, and any other relevant details.

You should also check the Website here regularly for updates and further information on the Scheme.

The Scheme will apply to all direct ​ ​​ ​insurance creditors or another party who may have a valid insurance claim affected by the Scheme Creditors if it is implemented. 

Where a Scheme affects the legal rights of creditors differently, they are required to be split into different groups, also known as classes. 

The Joint Administrators propose that there are two classes of Scheme Creditors:

1. FSCS Protected Creditors
2. Other Direct Insurance Creditors

FSCS Protected Creditors. These are direct insurance creditors who have an insurance claim against Elite that is eligible for protection by the UK FSCS and whose policies are not being disclaimed, and whose claims are not being crystallised as part of the Scheme.

Other Direct Insurance Creditors. These are direct insurance creditors who have an insurance claim against Elite or a claim under a policy which has been disclaimed and are not eligible for FSCS protection.  This includes those with disclaimer damages claims.

In a small number of circumstances, a Scheme Creditor may have claims in both classes.

If the Scheme is approved, all Other Direct Insurance Creditors will be required to submit a claim into the Scheme to be eligible for a distribution from Elite. 

More information on the classes of creditors and how you are affected can be found in section 7 of the Practice Statement Letter.

You may be a direct insurance creditor if you:

• are or were a policyholder of an Elite contract of direct insurance; or 

• have a direct insurance claim under or pursuant to a contract of direct insurance brought directly from Elite or from a third-party intermediary called a coverholder.

You are not a direct insurance creditor if your claim does not fall within the scope of an Elite contract of direct insurance (e.g. reinsurance cover provided by Elite to another insurer or trade supplier invoices).

You will be required to decide which voting class is applicable to you.

FSCS Protected Creditors are those who may have an insurance claim against Elite and are eligible for protection by FSCS.

To understand whether you may be a FSCS Protected Creditor please read the guidance provided here. Generally, claimants who are individuals or small corporates are likely to be eligible for compensation for claims arising from an Elite insurance policy that insures risks originating in the UK. 

Firms with an annual turnover of £1m or more are typically not eligible. For general contracts of insurance that are compulsory, usually all firms are eligible, regardless of size or authorisation status. Please see further details on the FSCS website here. 

If you are not an FSCS Protected Creditor, then you are an Other Direct Insurance Creditor.

If you are unsure if you will be protected, you should consider taking legal advice.

Elite’s policyholders may benefit from the following compensation schemes:

UK: The FSCS is the UK’s compensation scheme for customers of authorised financial services firms. The FSCS can pay compensation to claimants or policyholders of an insolvent insurance company if they meet the eligibility criteria under the FSCS Rules.

The FSCS is expected to protect all UK policyholders who meet eligibility rules, subject to the Scheme’s own terms and conditions.

For UK compulsory insurance (classes include third party motor and employers’ liability) and professional indemnity insurance, the FSCS will meet Elite’s liability for claims in full.

For all other insurance, with certain exceptions, cover will be at 90% of Elite’s liability for claims. 

France: The FGAO is France’s statutory compensation fund covering DO insurance policies. Beneficiaries of French DO policies in effect on or after 1 July 2018 whose claims arose before the end of the validity of the insurance policy may benefit from the compensation scheme fund for compulsory damage insurance. The FGAO pays 90% of the claim presented, subject to their own terms and conditions and eligibility criteria.

Greece: The GAF provides compensation to injured parties in respect of bodily injury and/or material damage caused fully or partially by Elite’s motor policyholders. The GAF pays 100% of the claim presented, subject to their own terms and conditions and eligibility criteria.

Ireland: The SCA has concluded that Elite’s creditors do not qualify to apply for payments from the ICF. As a result, there is no compensation available from the ICF for policyholders whose policies insured risks located in Ireland. Compensation may be available to eligible Irish creditors once Elite enters liquidation following the Scheme.

Policyholders whose policies insured risks located in all other jurisdictions are not covered by a relevant compensation fund.

FSCS Protected Creditors are entitled to vote on the Scheme but are not required to submit a claim into the Scheme. 

FSCS Protected Creditors will continue to be entitled to make claims, which will be paid by FSCS, subject to FSCS’ rules. FSCS Protected Creditors should continue to submit claims in the ordinary course, and as detailed within the relevant Elite policy. Any issues in respect of making a claim should be directed to Quest. 

 Any FSCS Protected Policies which have not expired by the Cut-Off Date, currently estimated to be 31 December 2027, will be treated as if they had been disclaimed on the Cut-Off Date. FSCS Protected Creditors will lose any entitlement to make further claims under their FSCS Protected Policies in the ordinary course. FSCS Protected Creditors with unexpired policies will be entitled to claim a part of the premium reflecting the time left on the policy directly from FSCS. 

If you have a legal objection to the Scheme or you do not agree that Scheme Creditors should consider, and vote on, the Scheme in the two classes described, please send details of your objection to: 

Elite Insurance Company Limited (in Administration) 
c/o PricewaterhouseCoopers LLP, FAO Louis Isaacson 
7 More London Riverside, 
London, SE1 2RT, England 
Email: uk_elite2@pwc.com

All Scheme Creditors are also entitled to attend the Convening Hearing and present any objection to the Court in Gibraltar in person. If you would like to do so, please let us know as soon as possible using the above details. 

While you will still be able to object to the Scheme at the Sanction Hearing, the Court will expect you to show good reason why you did not do so before or at the Convening Hearing.

To be a valid FSCS Protected Policyholder please read the guidance provided here which we have summarised below.

Policyholders for FSCS protection must meet the following requirements:

FSCS will protect most UK-based customers of Elite who are individuals or small businesses with an annual turnover of less than £1m.

• Eligibility depends on the type of policy, the type of claim, and the status of the policyholder. Generally, individuals, small businesses, charities, and trusts are eligible, but some exceptions and limits apply.

• Policyholders must have taken out the policy or renewed it before the insurer failed or the relevant date of default, which is determined by the FSCS.

If you are unsure if you will be protected you should consider taking legal advice.

If you are not a FSCS Protected Policyholder, you will be in the Other Direct Insurance Creditors voting class.

You may be a direct insurance creditor if you:

• are or were, at the material time, a policyholder of an Elite contract of direct insurance (such as an UK insurance backed guarantee policy or French Dommage Ouvrage policy); or 
• have a direct insurance claim under or pursuant to a contract of direct insurance brought directly from Elite or from a third-party intermediary called a coverholder.

You are not a direct insurance creditor if your claim does not fall within the scope of an Elite contract of direct insurance (i.e. unpaid commission). 

Under Section 209(2) of the Gibraltar Insolvency Act 2011, administrators are entitled to “disclaim onerous property of the company”.

A disclaimer terminates the insurance policy held by a policyholder. This means that the policy no longer exists. 

However, creditors impacted by a disclaimer do have a right to bring a claim against the insurer, in this case Elite, under Gibraltar law for any loss or damage sustained as a result of the disclaimer. Any creditor submitting a claim for losses or damages arising from a policy being disclaimed is required to make attempts to mitigate their losses. For example, this could be seeking alternative insurance cover for the remaining period of the contract of insurance which has been disclaimed.

Further information on how to value and submit Scheme Claims will be shared once the Scheme Meetings have been arranged. 

In the first instance any creditor whose policy has been disclaimed should make attempts to mitigate their losses. An example of this is seeking alternative insurance cover for the remaining period of your original policy. 

Once the Scheme is effective, if you have suffered damages due to the disclaimer, you may submit a claim into the Scheme for such losses. All claims must be submitted before the Claims Submission Deadline. 

Further information on how to value and submit Scheme Claims will be shared once the Scheme Meetings have been arranged.

The Joint Administrators have negotiated a separate agreement with FSCS and, as a result, insurance policies held by FSCS Protected Creditors have not been disclaimed. This agreement with FSCS has been formulated to ensure it does not unfairly prejudice Elite’s Other Direct Insurance Creditors and, in particular, FSCS will continue to pay the costs associated with the run-off of FSCS Protected Policies. The agreement is conditional on the Scheme being implemented.

The Joint Administrators have explored the availability of compensation for all Scheme Creditors. The three countries, other than the UK, in which compensation may be available to Scheme Creditors are France, Greece and Ireland.

France – All French construction policies were disclaimed in September 2020. The French Construction Disclaimer was prior to new legislation being enacted and therefore there is no protection available for policyholders under the compensation scheme in France where claims arose or were submitted after the French Construction Disclaimer. However, the Joint Administrators have agreed with the FGAO that eligible claims which arose prior to the French Construction Disclaimer and are submitted into the Scheme with the appropriate expert reports will be submitted to the FGAO for consideration and payment.  

Greece – All Greek policies, including the relevant notification periods for bringing a claim, have expired. There is therefore no further protection available for policyholders under the Greek compensation scheme. However, claims submitted during the period in which compensation was available are in the process of being agreed and paid by the GAF. 

Ireland – The SCA concluded that Elite’s creditors do not currently qualify for payments to be made from the Insurance Compensation Fund. Compensation may be available to eligible Irish creditors once Elite enters into a liquidation process following the Scheme.

The Court has given permission to convene the Scheme Meetings, so you can now vote on the Scheme. If you are using the Creditor Portal, you can submit your vote up until 5pm (CEST) on 6 May 2026. If you wish to attend and vote at the relevant Scheme Meeting, you should complete the appropriate section of the Vote Form on the Creditor Portal.

The easiest way to vote and submit a claim is via the Creditor Portal. You can access the Creditor Portal by completing the Registration Form here. Once you have registered, your unique ID, used for accessing the Creditor Portal, will be emailed to you.

Further documents are available on the Website to help you value your claim and vote on the Scheme, including the Scheme Document, the Explanatory Statement, the Creditor Portal User Guide, and the Creditor Flowchart.

Please note that all creditors are requested to submit their claims via the Creditor Portal.

Claims and votes submitted by Other Direct Insurance Creditors at this stage, will automatically become Scheme Claims if the Scheme is approved and becomes effective, unless the Other Direct Insurance Creditor opts out. This means that Other Direct Insurance Creditors do not need to submit a separate claim in the Scheme if it becomes effective, unless they have opted out.

FSCS Protected Creditors should submit claims via the Creditor Portal and these claims will be considered for voting purposes only and will not become Scheme Claims. This is because if the Scheme becomes effective, FSCS Protected Creditors will continue to benefit from FSCS protection and therefore, should continue to submit claims in the usual way. 

You are being asked to vote on the proposed Scheme. Your voting options are:

• For – you support the Scheme

• Against – you do not support the Scheme

• Abstain – you choose not to vote for or against the Scheme

• At the discretion of your appointed Proxy – you appoint your Proxy to vote on your behalf

If you abstain, your vote will not count for or against the Scheme.

The Scheme is a Court-approved process which will enable valid creditors to receive dividend payments that are distributed in a fair, equitable, and efficient manner.

You should vote because the Scheme will affect your legal rights and interests as a creditor of Elite. The Scheme will only go ahead if it is approved by the required majorities of Scheme Creditors in each voting class and by the Court. You should consider the contents of the Scheme carefully and vote accordingly. Your vote will help determine whether the Scheme is approved or not. 

The Joint Administrators and the Creditors’ Committee believe that it is in Scheme Creditors’ best interests to vote in favour of the Scheme and this is why we are proposing the Scheme.

All Scheme Creditors are eligible to vote on the Scheme, including FSCS Protected Creditors.

The easiest way to vote on the Scheme is via the Creditor Portal. If you have not already done so, you should register using the Registration Form here. Once registered, you will be sent unique login details for the Creditor Portal, where you can submit a claim and vote on the Scheme.

You will first need to submit a claim value along with supporting information. A step-by-step guide on how to vote via the Creditor Portal is available on the website here.

If you do not vote on the Scheme, you will lose the opportunity to have a say in whether the Scheme is approved or not. If the Scheme is approved by the required majorities of Scheme Creditors and by the Court, it will be binding on all Scheme Creditors, including those who abstain or do not vote.

No, you do not have to vote on the Scheme, but we strongly encourage you to do so, as the Scheme will affect your legal rights and interests as a creditor of Elite. If you do not vote on the Scheme, you will not have a say in whether the Scheme is approved or not. The Scheme is legally binding on all Scheme Creditors, whether or not you choose to vote.

If you do not register your vote, you can still submit a claim but you must do so by the Claims Submission Deadline, estimated to be in November 2026. 

If you fail to submit a claim by the Claims Submission Deadline, you will not be entitled to receive any payment from or have any further rights against Elite. 

If the Scheme is approved, FSCS Protected Creditors should continue to submit their claims in the usual way in accordance with their relevant Elite policy until the Cut-Off Date.

When you submit your claim and vote, you should provide a suggested value for your claim and vote. Your vote should be valued in accordance with the Estimation Guidelines. You may value your vote based on, for example, the value of un-notified losses, the cost of obtaining replacement cover (if there is a market for the relevant policy), a return of part of the premium paid for the policy which is proportionate to the time remaining on the policy at the date it was disclaimed, or based on potential future losses.

If you are an Other Direct Insurance Creditor, you should provide a suggested value and supporting evidence for your claim when you submit your claim and your vote.

If you are a FSCS Protected Creditor, you should provide a suggested value for your claim when you submit your claim and your vote.

If you remain unsure how to value your claim and your vote, for support on how to do this, all creditors should initially refer to the Estimation Guidelines which are available on the Website. You can also contact Quest using the contact details outlined in Section G.

Yes, you can change your vote at any time before the relevant voting deadline.

The easiest way to change your vote is via the Creditor Portal. You can update your vote online at any time up until 5pm (CEST) on 6 May 2026.

If you submitted a hard copy (paper) Voting Form and wish to change your vote, you must contact Quest as soon as possible at elite-insurance.scheme@quest-group.co.uk. Any revised hard copy Voting Forms must be received by Quest no later than 5pm (CEST) on 1 May 2026.

Yes, you can attend the Scheme Meeting if you are a Scheme Creditor. The Scheme Meetings will be held online, via videoconference, on 7 May 2026.

To attend, you must register your interest by selecting the relevant option on the Voting Form or Creditor Portal at least three Business Days before the meeting. You will receive an email with access information for the online Scheme Meeting closer to the meeting date if you have registered to attend.

To attend the Scheme Meeting, you must register your interest at least three Business Days before the meeting. You can do this by:

• selecting the relevant option on your Voting Form or the Creditor Portal; or

• contacting Quest at elite-insurance.scheme@quest-group.co.uk.

Scheme Meeting details, including how to join, will be sent closer to the meeting date to those that have registered to attend.

Yes, you can appoint a proxy to vote on your behalf if you are a Scheme Creditor.

The easiest way to appoint a proxy is directly on the Creditor Portal via the voting form where you can select and provide the details of a proxy, and instruct them to vote for, against , abstain or at the proxy holder's discretion at the Scheme Meeting.

Alternatively, you can appoint a proxy by completing the relevant section of the hard copy Voting Form. You must provide the name and contact details of your proxy.

Yes, you can change your proxy nomination and attend the Scheme Meeting yourself.

If you voted via the Creditor Portal, you can make this change directly on the Creditor Portal by updating your Voting Form by 5pm (CEST) on 6 May 2026.

If you submitted a hard copy (paper) Voting Form, you must contact Quest as soon as possible at elite-insurance.scheme@quest-group.co.uk and submit a new Voting Form with your revised instructions. This must be received by Quest no later than 5pm (CEST) on 1 May 2026.

If you are an Other Direct Insurance Creditor and you have voted on the Scheme via the Creditor Portal, unless you have opted out, you do not need to submit a separate Claim Form to receive compensation. This is because by not opting out you elected, to use your Vote Form as your Claim Form. 

However, you must ensure that you have provided a suggested value and supporting evidence for your claim when you voted. You will be able to amend this claim up to the Claims Submission Deadline.

If you are a FSCS Protected Creditor, the claim you submitted via the Creditor Portal (or via hard copy form) is for voting purposes only. This is because if the Scheme becomes effective, you will continue to benefit from FSCS protection until the Cut-Off Date. Therefore, you should continue to submit your claims in the ordinary course and as detailed within the relevant Elite policy.

The chair of the Scheme Meetings on 7 May 2026 will be one of the proposed Scheme Administrators of Elite.

If creditors vote against the Scheme or the Court decides not to sanction it, the Scheme will not go ahead and Elite will likely pursue an alternative course of action, which is likely to involve the disclaimer of all FSCS Protected Policies and Elite entering liquidation. 

This would result in a later and much lower return for all creditors due to the costs and inefficiencies of a liquidation relative to the Scheme.

No, you cannot opt out of the Scheme if you are a Scheme Creditor.

The Scheme is a legally binding agreement that will affect all Scheme Creditors, regardless of whether they vote or not. 

If the Scheme is approved by the required majorities of Scheme Creditors and by the Court, it will be binding on all Scheme Creditors, including those who do not vote.

Yes, if you are a Scheme Creditor you can attend the online Scheme Meeting to raise issues or concerns in relation to the Scheme. You will be required to register your claim and select the relevant option on the Voting Form or notify Quest to indicate you wish to attend.

We politely ask that you raise any concerns or questions with us in advance of the Scheme Meetings so that we can answer or support any issues you may have.

All claims submitted under the Scheme will be assessed in accordance with the Scheme. The Scheme provides a mechanism for adjudicating disputes that relate to the rejection or valuation of a Scheme Claim, via an independent adjudicator. The details of the adjudication process are set out in the Scheme document and the Explanatory Statement.

The outcome of the Scheme Meetings will be disclosed shortly after they are held. These will be communicated to you and posted on the Website here. 

The easiest and most efficient way to claim and vote on the Scheme will be via the Creditor Portal.

Alternatively, you can claim and vote using a paper Voting & Proxy Form. A copy of this form can be requested by contacting Quest using the details specified in section G and should be completed and returned to Quest by 5pm (CEST) latest on 1 May 2026.

The Scheme will affect your claim against Elite differently depending on whether you are a FSCS Protected Creditor or an Other Direct Insurance Creditor. 

If you are a FSCS Protected Creditor (i.e. you hold an insurance policy with Elite and are eligible for protection by the FSCS) and the Scheme is implemented, you will continue to be entitled to make claims, which will be paid by the FSCS (subject to the FSCS rules), until the Cut-Off Date, which is currently expected to be 31 December 2027. At the Cut-Off Date, your policy will be treated as if it had been disclaimed by Elite, although you may still have a claim to present to the FSCS after this date if your claim arose within the relevant notification period.

If you are an Other Direct Insurance Creditor (i.e. you have an insurance claim against Elite that is not eligible for FSCS protection in relation to an insurance policy which has been disclaimed by Elite) you will need to submit your claim against Elite by the Claims Submission Deadline. Your claim will be assessed, valued and paid by Elite in accordance with the Scheme and the Estimation Guidelines. If you fail to submit your claim before the Claims Submission Deadline, you will not receive any payment from Elite

We kindly request that you register for the Creditor Portal using the Registration Form here. 

This is the most effective way to keep up to date and monitor progress of the Scheme and ultimately any claim. It is also the most secure way to share information with us that may be required.

The easiest way to make a claim and vote on the Scheme will be via the Creditor Portal.

A step-by-step guide on how to make a claim on the Creditor Portal available on the Website page here. More information on how to value your claim is available in the Estimation Guidelines, which are also available on the Website.

If you are a FSCS Protected Creditor, you are required to submit a claim in order to vote in the Scheme. Please note that your claim will not be considered as a Scheme Claim. This is because if the Scheme becomes effective, you will continue to benefit from FSCS protection. Therefore, if you have suffered a loss, you should continue to submit claims in the ordinary course of business and as detailed within the relevant Elite policy.

Other Direct Insurance Creditors are those who have an insurance claim against Elite or a claim under a policy which has been disclaimed and are not eligible for FSCS protection. If you are an Other Direct Insurance Creditor, you have a right to bring a claim against Elite in the Scheme for any loss or damage sustained as a result of the disclaimer. You will need to submit your claim against Elite by the Claims Submission Deadline. If you submit a claim and vote in the Scheme, your claim will automatically be considered as a Scheme Claim if the Scheme becomes effective, unless you opt out when you submit your claim and vote.

Your claim may consist of one or a combination  of the following claim elements: (a) an Unpaid Agreed Claim, which is a claim that has been agreed by or on behalf of Elite before the Scheme Effective Date but has not been paid; (b) a Notified Outstanding Claim, which is a claim that has been reported to or discovered by Elite but not agreed by Elite before the Scheme Effective Date and (c) a Disclaimer Damages Claim, which represents the actual or estimated value of any loss sustained due to your policy being disclaimed.

Yes, you may still be entitled to compensation from Elite if you have a claim against Elite that arose before your insurance policy and/or the relevant notification periods expired. You will need to submit a claim by the Claims Submission Deadline, which is expected to be around November 2026.

If you are an Other Direct Insurance Creditor, your policy has been disclaimed. That means that it has been terminated. You may have a claim which represents the actual or estimated value of any loss sustained due to your policy being disclaimed. You are required to estimate the value of your claim as part of the submission process of claims into the Scheme. If your insurance policy did not have an end date, you are required to make a reasonable assumption about the end date of the policy. Such assumptions will be considered by Elite on a case-by-case basis.

Yes, you can submit a claim on behalf of someone else if you have their consent and authority to do so. You will need to provide evidence of your relationship with the person and your authority to act on their behalf when you submit the claim, for example, in the form of a written letter of authority.

Your claim will be reviewed in accordance with the Estimation Guidelines and you will be notified of the outcome following this review.

The easiest way to make a claim on the Scheme and review the status of your claim will be via the Creditor Portal.

A step-by-step guide on how to make a claim and review its status on the Creditor Portal will be made available on the Scheme website page here. 

Please read the Creditor Portal User Guide to help answer any questions you may have.

The amount of compensation that you may be eligible to receive will depend on your specific circumstances, such as the size and nature of your claim, the details of your insurance policy and whether your claim is covered by a compensation fund. 

All Other Direct Insurance Creditors will be paid the same percentage of their accepted claim against Elite. Please note that valid Scheme Claims are unlikely to be paid in full.

All payments in respect of valid Scheme Claims related to Other Direct Insurance Policies written in Euros will be paid in Euros.  All other Scheme Claims will be paid in Pounds Sterling.

We estimate payments to Scheme Creditors with valid Scheme Claims to be made during H1 2027.

Your claim will be assessed in accordance with the Scheme and the Estimation Guidelines. We will also consider any supporting evidence that you have supplied with your claim.

Yes, you can make a claim now.

The easiest way to make a claim and vote on the Scheme will be via the Creditor Portal. Only Other Direct Insurance Creditors will be required to make a claim via the Creditor Portal. 

A step-by-step guide on how to make a claim on the Creditor Portal will be made available on the Scheme website page here. More information on how to value your claim is available in the Estimation Guidelines.

You can also submit a Scheme Claim on a paper claim form which will be available on the Scheme Website here. You can also request Elite to send you a hard copy of this form.

All Scheme Claims must be submitted by the Claims Submission Deadline which is expected to be in November 2026, including those sent in hard copy format.

FSCS Protected Creditors should only submit a claim on the Creditor Portal for the purposes of assigning a value for their vote on the Scheme. This is because if the Scheme becomes effective, you will continue to benefit from FSCS protection until the Cut-Off Date. Therefore, you should continue to submit your claims in the ordinary course and as detailed within the relevant Elite policy.

No immediate action is required upon submission of your claim. Once your claim has been submitted as detailed within the relevant Elite policy, Quest may request additional information or documentation in order to submit your claim to the relevant compensation fund once it has been reviewed and agreed.

Yes, you still need to submit a claim in the Scheme, even if your claim has already been agreed by Elite, provided it remains unpaid. If your claim has already been paid, you do not need to submit a claim in the Scheme.

Yes, if you are an Other Direct Insurance Creditor, you still need to submit a claim in the Scheme, even if you already have an open claim against Elite.

If you fail to do so before the Claims Submission Deadline, you will not receive any payment from Elite under the terms of the Scheme.

If you are a FSCS Protected Creditor, you do not need to submit a claim under the Scheme, but you should continue to submit claims in the ordinary course of business and as detailed within the relevant Elite policy.

You should refer to the Estimation Guidelines here for further guidance on how to value your claim.

If you are an Other Direct Insurance Creditor and you have not notified Elite of a claim under your Elite policy before your policy was disclaimed, you should value your claim based on the loss or damage you have suffered or may suffer as a result of the disclaimer of your insurance policy by Elite. You should provide a suggested value and supporting evidence for your claim when you submit your Claim Form. 

If you are a FSCS Protected Creditor, if the Scheme becomes effective, you should continue to submit your claims as directed in the relevant Elite policy in the ordinary course.

You need to supply any evidence that can demonstrate the existence and value of your claim, such as policy documents, invoices, receipts, correspondence, medical reports, or legal documents. The type and amount of evidence required may vary depending on the nature and complexity of your claim. Please refer to the Supporting Information appendix to the Estimation Guidelines which can be found here for further details.

The deadline for submitting a claim is called the Claims Submission Deadline, which is expected to be around November 2026; the exact date will be notified on the Website in due course.

The deadline for providing supporting evidence is the same as the deadline for submitting a claim, unless Elite requests further evidence from you after receiving your claim. In that case, you will have 28 days from the date of Elite's request to provide the additional evidence.

We will aim to value your claim as soon as possible after receiving it, subject to the availability of sufficient information and evidence. We will notify you of the outcome of your claim within six months (at most) of the Claims Submission Deadline (or 30 days of the most recent receipt of further information), unless there are exceptional circumstances that require more time. 

Other Direct Insurance Creditors will receive a payment (percentage to be announced in due course) based on the value of their agreed claim. Valid Scheme Claims are unlikely to be paid in full. 

FSCS Protected Creditors will receive 90% or 100% of their agreed claim value, net any applicable excess, depending on the type of insurance policy and subject to the FSCS’ own terms and conditions. To be clear, this does not represent a percentage payment in respect of Scheme Claims.

Please submit a claim in the Scheme before the Claims Submission Deadline. Your claim will be reviewed and agreed by Elite and then submitted to the relevant compensation fund for payment, subject to their own terms and conditions. Any element of your claim that is agreed by Elite but not eligible for payment by the relevant compensation fund will automatically be considered in the Scheme for a dividend payment from Elite in due course.

Please submit only one combined claim, regardless of the voting class, on the Creditor Portal or via the Vote and Claim form. For example, if you have 2 claims for £50 each, your total claim value will be £100. Please attach evidence to support all parts of your claim, otherwise you risk those elements being rejected from your claim. 

If your claim is admitted, the preferred method for payment of dividends to be paid in the Scheme is by bank transfer. You are able to provide these on the Creditor Portal. If you require payment via a different method please contact the helpdesk.

Additional details on the steps to submit your bank details on the Creditor Portal can be found within the Creditor Portal - User Guide. 

If Elite is unable to reach an agreement with an Other Direct Insurance Creditor in relation to their Scheme Claim, either Elite or the Other Direct Insurance Creditor is entitled to refer the claim to an adjudication process conducted by an independent adjudicator (“Scheme Adjudicator”). 

The determination made by the Scheme Adjudicator is final and binding on all parties.

Uncapitalised interest should only be claimed in the limited circumstances where it is applicable. For example,  where a judgment has been made in your favour before the date of Elite’s insolvency (in December 2019).

If you believe you may be able to claim for uncapitalised interest, please include an estimate of the value of this in your claim submission and provide supporting evidence.

You can access the Creditor Portal via the following link: https://www.ips-docs.com/. This link will also be emailed to you along with your unique ID, which is required to log in to the Creditor Portal.

To be given a unique ID, you must first register for the Scheme using the Registration Form here.

In the first instance, please refer to the Creditor Portal User Guide which we have written to assist creditors with accessing and using the Creditor Portal.

If you continue to have issues after reading the Creditor Portal User Guide, please call the Scheme helpdesk using the Quest contact details.

Yes, if you are an Other Direct Insurance Creditor, you can submit a claim on the Creditor Portal via the ‘Submit Claim’ button.

All FSCS Protected Creditors should also submit claims on the Creditor Portal in the same way. Please note that claims submitted by FSCS Protected Creditors will not be considered as Scheme Claims if the Scheme becomes effective. This is because if the Scheme becomes effective, FSCS Protected Creditors will continue to benefit from FSCS protection and therefore, such creditors should continue to submit claims in respect of losses suffered in the ordinary course and as detailed within the relevant Elite policy.

Additional details on the steps to login and submit a claim on the Creditor Portal can be found within the  Creditor Portal - User Guide. 

Attaching evidence will be required in order to submit your claim. You may only submit PDF documents as evidence. If you are having any issues uploading your supporting documents, please contact the Scheme helpdesk, details for which can be found in section G.

Yes, you can submit a vote on the Creditor Portal via the 'Vote' button.

Please note that you can only submit a vote on the Creditor Portal once you have already submitted a claim. 

There are three different options for voting available in both Scheme Meetings. The differences between these options are stated in the black boxes within the vote section of the Creditor Portal.

Additional details on the steps to submit a vote can be found in the Creditor Portal - User Guide.

Yes, you can change your vote and/or claim on the Creditor Portal.

Additional details on the steps to change your vote and/or claim can be found in the Creditor Portal - User Guide.

Yes, you can view the status of your claim on the Creditor Portal. The status of all claims will remain as 'Received' until the Scheme is sanctioned by the Court and the Scheme becomes effective. Following this, claim statuses will be updated, following the review of claims in accordance with the Scheme and the Estimation Guidelines.

If your claim is admitted, the preferred method for payment of dividends to be paid in the Scheme is by bank transfer. 

Additional details on the steps to submit your bank details on the Creditor Portal can be found within the Creditor Portal - User Guide. 

If you have registered for the Creditor Portal, you will receive an email confirming your registration. Please check your junk/spam folder before contacting the helpdesk.

Unique login details have already been sent to creditors who have registered. If you register now, your unique login details will be emailed to you shortly after registration. Once you have received your login details, you will be able to submit a claim and vote on the Scheme via the Creditor Portal

You can now submit your vote on the Scheme. The deadline for submitting your vote depends on how you choose to vote:

• Online via the Creditor Portal: 5pm (CEST) on 6 May 2026

• Hard copy (paper) Voting Form: 5pm (CEST) on 1 May 2026. 

If you do not vote before the deadlines for voting on the Scheme at the Scheme Meeting on 7 May 2026, you will lose the opportunity to have a say in whether the Scheme is approved. However, you will still be able to submit a claim up until the Claims Submission Deadline.

The Claims Submission Deadline is 180 calendar days after the Scheme is sanctioned by the Court (not including the date of sanction). This is currently expected to be in November 2026.

You can now submit a claim on the Creditor Portal. The Convening Hearing has taken place and the Court has given permission to Elite to convene the Scheme Meetings.

You have until the Claims Submission Deadline to submit your claim for it to be considered as part of the Scheme. The Claims Submission Deadline is 180 calendar days after the Scheme is sanctioned by the Court and is currently expected to be in November 2026. The exact date will be published on the website at www.pwc.co.uk/elite-insurance once the Scheme becomes effective.

If you are an Other Direct Insurance Creditor and we receive your Claim via the Creditor Portal after the Claims Submission Deadline, your claim will not be valid, you will lose any right to make a claim in the Scheme and will not be entitled to receive any payment from (or have any further rights against) Elite.

​​​Please first read these FAQs if you have any questions.

For any queries or questions regarding Elite or the Scheme which are not answered, please contact Quest directly using the contact details below.

Preferred Contact Method: 

Email – elite-insurance.scheme@quest-group.co.uk

Telephone Enquiries: 

From the UK:

Calls should be directed to 0800 327 7278. This is a Freephone number.

From France:

Calls should be directed to +33 8 05 98 54 71. This is a Freephone number.

From the rest of the EU:

Calls should be directed to +33 8 05 98 54 71. These will be charged at the standard international rate applicable from your location.

Preferred Contact Method:

Email – elite-insurance.scheme@quest-group.co.uk

Telephone Enquiries: 

From the UK:

Calls should be directed to 0800 327 7278. This is a Freephone number.

From France:

Calls should be directed to +33 8 05 98 54 71. This is a Freephone number.

From the rest of the EU:

Calls should be directed to +33 8 05 98 54 71. These will be charged at the standard international rate applicable from your location.

The Scheme documents have been uploaded to the Website in English, French, Italian and Spanish. If you would like a copy of any of the Scheme documents in any other language, please contact Quest.

If you change any of your contact details, you should notify Quest as soon as possible with your updated details or update your details on the Creditor Portal.

If you have any technical issues with accessing or using the online Creditor Portal, you can find guidance on the Website here or contact the help desk using the Quest contact details.

The helpline can assist you with logging in, resetting your password, updating your details, and other queries.

If you have received correspondence from Elite or the Joint Administrators but your details are incorrect, you should update your details on the online Creditor Portal [here] or contact Quest using the details provided in this section of the FAQs and provide evidence for the change. 

Additional details on the steps to update your details using the Creditor Portal can be found within the Creditor Portal - User Guide. 

It is important that your details are accurate and up to date, as they will be used to process your claim and pay your compensation.

If you need more information or further help, you can find additional sources of information and guidance on the Website here, including these Frequently Asked Questions (FAQs), Creditor Portal User Guide, a Creditor Flowchart, the Explanatory Statement, and the Scheme Document. 

You can also contact Elite using the details provided in this section of the FAQs. You should consider seeking legal or other advice if there is anything you do not understand after reading the legal documents and accessing the additional sources of information and guidance available.

We will contact you by post or by email, depending on your preference and the type of correspondence. You should ensure that you provide us with your current and valid contact details and notify us of any changes (with evidence) as soon as possible.

Yes, you can request a hard copy or large print version of the documents by contacting Quest at elite-insurance.scheme@quest-group.co.uk

5pm (CET) on the first working day 180 days after the Scheme Effective Date

Court hearing to seek permission to convene the Scheme Meetings

A legal institution that resolves disputes and makes decisions based on the law

Online portal for voting and submitting claims

Date on which remaining FSCS Protected Policies are disclaimed

Dommage Ouvrage

Elite Insurance Company Limited

Document providing detailed information on the Scheme

Le Fonds de Garantie des Assurances Obligatoires de Dommages (France)

Disclaimer of all French construction policies in September 2020

Financial Services Compensation Scheme (UK)

Direct insurance creditors eligible for FSCS protection

Insurance policies held by FSCS Protected Creditors

Greek Auxiliary Fund

Gibraltar Financial Services Commission

Irish Insurance Compensation Fund

Edgar Lavarello (PwC Gibraltar) and Dan Schwarzmann (PwC UK)

Direct insurance creditors not eligible for FSCS protection

Practice Statement Letter

Quest Consulting (London) Limited, Elite’s runoff manager

Online form to register for the Scheme

Irish State Claims Agency

The proposed scheme of arrangement between Elite and its creditors

All direct insurance creditors and other parties who may have valid claims affected by the Scheme

Date on which the Scheme becomes effective

Meetings of Scheme Creditors to consider and vote on the Scheme

www.pwc.co.uk/elite-insurance