Help Category: Brexit

Are there any changes to my insurer because of Brexit?

The company that underwrites your insurethebox policy, Aioi Nissay Dowa European group (AND-E), has transferred its registered office from the UK to Luxembourg, allowing the company to continue operating from its existing Europe branches and a new UK branch.

AND-E has also established a new insurance company in the UK that will be the insurer of our new and renewing UK customers.

After the Brexit restructure the AND-E group now has three licenced insurers:

  • Aioi Nissay Dowa Insurance UK Limited in the UK (ANDI UK),
  • Aioi Nissay Dowa Insurance Company of Europe SE in Luxembourg (ANDIE), and
  • Aioi Nissay Dowa Life Insurance Europe AG in Germany (ANDLIE).

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
-1 ratings, 1 vote-1 ratings, 1 vote -1 (1 votes)

Why are changes being made to the business?

In light of the UK’s decision to leave the EU (“Brexit”), AND-E has restructured to make sure its customers get uninterrupted insurance cover and services in the UK and across Europe post-Brexit.

The AND-E group has European policyholders as well as UK policyholders. In case of a no-deal Brexit, the group decided to establish a European insurance company for European policyholders and a UK insurance company for UK policyholders.

Why Luxembourg?
Luxembourg is a core member of the European Union, with a stable economy, an experienced and well-respected insurance regulator and is a hub for financial services in general.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
-1 ratings, 1 vote-1 ratings, 1 vote -1 (1 votes)

How has the company transferred from the UK to Luxembourg?

ANDIE is a European public limited-liability Company regulated under EU law and registered in the UK, also known as a Societas Europaea (SE). ANDIE converted to an SE (company number SE000119) on 6 August 2018.

Under Article 8 of the European Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European company (SE), an SE is allowed to transfer its domicile from one EEA Member State to another and remain the same legal entity. In this way existing legal contracts that the SE is party to remain valid, including policyholders’ insurance contracts.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
1 rating, 1 vote1 rating, 1 vote +1 (1 votes)

How does the transfer impact customer policies and claims?

The transfer has no impact on the cover provided by the current policy. Any claims which a policyholder may have made, or may make, under their existing policy or policies will be handled in the same manner and by the same contact.

The duration of the policy and any associated no-claims discount will be unchanged.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
(No Ratings Yet)

Are there any changes to the premiums?

No. The transfer doesn’t in itself result in any change to the premiums payable on existing policies.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
(No Ratings Yet)

Will I need new policy documents?

No. Your Terms and Conditions stay the same. You won’t need any new insurance documents for existing policies as a result of the transfer.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
1 rating, 1 vote1 rating, 1 vote +1 (1 votes)

Will the same people continue to deal with my policy?

Yes, all contact details and customer service phone numbers will remain the same.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
(No Ratings Yet)

How is my data being handled/protected?

Policy data remains within the AND-E group and so is subject to all of our existing data privacy and data protection practices. We take customer data extremely seriously and abide by the data privacy and protection regulations that exist in each jurisdiction where we operate.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
(No Ratings Yet)

Will I have access to a Financial Services Compensation Scheme (FSCS) and Financial Ombudsman Scheme (FOS)?

If you’re a UK policyholder, you’ll continue to have access after the Proposed Transfer to both the Financial Services Compensation Scheme (FSCS) and Financial Ombudsman Scheme (FOS).

If you’re an existing EEA policy holder, your eligibility for access to the UK’s Financial Services Compensation Scheme (FSCS) will remain following the transfer, until your policy expires. Your right of access to any existing ombudsman service in their country of residence won’t change and you’ll gain the additional right of access to the ombudsman in Luxembourg.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
(No Ratings Yet)

I am no longer a policyholder so why is this relevant to me?

The terms of some policies issued by ANDIE may allow claims to be made a number of years after the policy has expired. Depending on the terms of your policy, you may still have the right to make a claim under such a policy.

For any questions, email us at brexit-uk@aioinissaydowa.eu

Was this helpful?
(No Ratings Yet)