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Notice for Policyholders who are insured by Qudos Insurance A/S


Update 9/4/19



The Financial Services Compensation Scheme in the UK has confirmed that it has completed the process of transferring nearly 120,000 Gap Insurance (plus Tyre, Alloy Wheel and Scratch & Dent Insurance) policies from Qudos Insurance A/S to Lloyds of London Syndicate 4444 managed by Canopius Managaing Agents.



The Total Loss Gap branded policies have been processed by Tobell Insurance Services, and you should have received (or will receive shortly) full details of the replacement cover. If you are happy with the replacement cover you need to do nothing for that to continue.



Full details from the FSCS can be found here : FSCS Update on Qudos Insurance A/S



Update 5/4/19


Replacement cover notifications are in the process of being sent to all affected customers who were previously insured by Qudos Insurance A/S. Qudos were declared bankrupt and this necessitated the process to transfer of cover to a new insurer.


The information has been sent from the policy claims administrators at Tobell Insurance Services.


The new information provided includes your options in accepting the new policy cover, or cancelling. The documentation includes a new validation certificate and replacement terms and conditions.


As confirmed in the documentation the replacement policies cover you in exactly the same manner as your previous cover.


You can continue to make a claim via the same claims team. Aequitas Automotive Ltd (trading as Total Loss Gap) continue to administer aspects other than claims (change of vehicle, change of address etc) in the same way also.


As detailed in the new documentation,  the replacement products are underwritten by Lloyds of London Syndicate 4444 managed by Canopius Managing Agents.


Update 13/3/19


Replacement cover for Qudos policy holders - replacement cover has been arranged and is being finalised with Canopius Lloyds of London Syndicate 4444 to provide continuance of cover for existing insurance policies. Specific policy wording may change (to meet the requirements of Lloyds) but the terms of cover will be no less advantageous than those currently in place.


Any claims under the policies will be handled on the same basis (same claims team contacts and process) as provided for by existing cover.


The Danish Guarantee Fund will pay all eligible claims to 100% of the value (up to 8th February 2019) and Canopius will pay all eligible claims to 100% of the value from 8th February 2019 until the natural expiry of the policy.


Replacement policy details will be provided to customers directly in the coming weeks.


Please continue to make any claims in the normal manner detailed in your original documents in the meantime.


Update 28/1/19


Tobell Insurance Services, our product provider for Qudos underwritten products, met with the Financial Services Compensation Scheme on Friday 18 January to discuss the current situation with Qudos Insurance.  Tobell, on behalf of Aequitas Automotive Ltd, and the FSCS are working toward the same goal; obtaining the best resolution for UK consumers following Qudos Insurance entering liquidation.


The FSCS is currently working with a UK-Based, A-rated insurer and aiming to effectively take over the remaining Qudos policies from 8 February 2019, which would allow Tobell to continue with the current claims handling arrangements. This would have the clear advantage of ensuring that consumers do not need to personally seek reimbursement through the FSCS and would mean that policy holders are protected for 100% of future claim amounts.


We are very hopeful that the FSCS solution will be agreed and as we receive any news, we will publish it on our website.


UPDATE 17/1/19


Further to our recent information regarding our policyholders of Qudos Insurance A/S we can confirm that customers are currently offered protection for claims via the Danish Guarantee Fund and the Financial Services Compensation Scheme in the UK. If you need to make a claim then you can simply do so via the same process outlined in your policy documents.



Moving forward talks have been ongoing with the FSCS, Danish Guarantee Fund, Liquidator of Qudos and our product providers at Tobell Insurance Services with the aim of providing a 'en bloc' transfer of cover to a new insurer in the near future. The talks have been confirmed by the FSCS on their website, details can be found here under 'Transfer to a new insurer' - CLICK LINK


We will provide a further update as soon as details can be released.



Qudos Insurance A/S ("Qudos") were the undewriters for a number of Total Loss Gap branded products from February 2016 until March 2018. Please check your policy documents to verify if your policy was underwritten by Qudos.  


Qudos Insurance A/S filed for liquidation on 27th November 2018 by a resolution of the General Meeting. Following this the Danish Financial Supervisory Authority appointed Boris Frederiksen to manage the liquidation of Qudos with attorney Anders M Hansen.


Your policy (if underwritten by Qudos) will continue to run and provide the cover as specified in the policy wording until 27th November 2019 being twelve months from the liquidation date in accordance with the Danish Insurance Contracts Act.


Aequitas Automotive Ltd will continue to offer general administration and broker services. Tobell Automotive Limited (“Tobell”) will continue to administer your policy and handle any claims arising but we will be unable to pay your claim if it is authorised until such time as we are instructed to do so by the liquidator.


The liquidator has advised that he expects to issue further instructions in around 2 weeks following a consultation period to assess the situation of Qudos.


We understand that this is very worrying for you but this does not mean that your claim will not be paid, although there is likely to be a significant delay before it is paid. Your policy is covered by the by the Financial Services Compensation Scheme (“FSCS”).


For more details on the coverage from the FSCS please go to FSCS


Aequitas Automotive Ltd


Aequitas Automotive Ltd is unaffected by the liquidation of Qudos and is liaising with Tobell and the liquidator of Qudos and we will update this page as more information becomes available. In the meantime, more information can be found at -

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