From the date of our appointment as the Administrators, all authority for brokers, intermediaries, agents and coverholders to account on a net basis with Elite is withdrawn.
All accounting involving Elite should now be on a principal to principal basis.
There should be no netting off of sums of any nature collected on behalf of Elite against payments due from Elite to any other policyholders or any other creditors of any nature with whom brokers, intermediaries, agents and coverholders do business, whether in respect of claims, premiums, expenses or otherwise.
Accordingly, brokers who have collected reinsurance or other amounts on behalf of the Elite, including premiums, should remit these to us as soon as possible.
If you are owed any money, please complete the Statement Of Claims which can be found on our website here under the Creditors and Suppliers section. Please refer to the “amount due to creditors” section.