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Your Car Insurer Was Placed Under Statutory Management. What Now?

October 21, 2026·2 min read·News

In March 2026, the Insurance Regulatory Authority (IRA) placed Trident Insurance, Corporate Insurance and KUSCCO Mutual Assurance under statutory management. For many motorists, the first sign was a cancelled digital insurance certificate: and in some cases, being stopped for driving uninsured.

What happened

  • The IRA acted under section 67C(2)(i) of the Insurance Act and barred the three companies from issuing new policies.
  • The Policyholders Compensation Fund was appointed statutory manager, to run the companies and handle claims.
  • Digital certificates for existing motor policies were cancelled. Policyholders went to court, saying they faced arrest and impounded vehicles for "driving without insurance" through no fault of their own.

What the court said

In September 2026, the High Court stopped the IRA from cancelling insurance policies solely because the insurer had been placed under statutory management, finding that the regulator had exceeded its powers under the Insurance Act.

What to check now

  1. Is your insurer under statutory management? The IRA publishes notices on its website and social channels.
  2. Is your certificate valid? Your digital motor certificate should show as active on the insurer's or DMVIC's verification service. If it doesn't, don't drive uninsured, take cover elsewhere while you sort it out.
  3. Claims in progress: contact the Policyholders Compensation Fund about claims against the three insurers.
  4. Buying a used car? Insurance doesn't pass to you with the car. Arrange cover in your name before you drive it away.

Insurers and lenders use vehicle history too: an accurate record of a car's past: its auction grade, mileage and usage, helps price cover and finance fairly. You can get the same picture before you buy, with a CarTrust report.

Sources