It is considered unlikely that any creditor will be a protected creditor, under a protected insurance policy, if they have not had prior dealings with Quick-Sure; that is they had not already submitted a claim, in the normal course of events to QuickSure, before the Administration Order. However if claimants &/or their lawyers believe their claim is protected, they should submit their claim forthwith to the Administrators. This claim should contain supporting documentation & a statement as to why it is considered that their claim is protected. There should be a detailed breakdown of the claim itself & costs thereto, in order that the FSCS can consider the claim. It is not the Administrators that ultimately pay the claim, rather the FSCS. As a cover to the protected claim, policyholders should utilise this form.
It is now considered most improbable, that any protected creditor, has not had any dealings with either QuickSure, it’s Administrators &/or IMS. Indeed in all probability protected creditors will have already received payment from the QuickSure Administrators. As noted in the March Press Release, the Administrators are moving the remaining protected creditor claims management in-house, away from the incumbent QuickSure claims managers, IMS. All protected creditors (including any such creditor that has not registered their claim at all) should henceforth liaise directly with the Administrators, via the website contacts section.
The Administrators are concerned with the apparent inability of a very limited number of professionals, representing protected claimants, to understand that there is a difference between admitting an unsecured claim in the administration & processing a protected claim, to be paid by the FSCS. Given the nature of the insolvency, as is noted elsewhere, merely submitting a claim as a unsecured creditor, will result in no dividend. The nature of what is claimable as an unsecured creditor, is different to what is payable by the FSCS. Understandably the FSCS will require different & often much more detail, to that of Administrators. Professionals should appraise themselves of the FSCS criteria & submit a protected status claim, as noted on this website. Unless such a claim is submitted, it cannot be processed & your client cannot get paid. Finally, the Administrators can only pay over any FSCS funds, as and when received by the FSCS.