Temp Cover

Tempcover.com is the online temporary car insurance website of Temporary Cover Limited based in Fleet, Hampshire and trading as Temp Cover Insurance.

Temporary Cover Limited is a subsidiary of Fyfe Group, which was bought in 2007 by Royal & Sun Alliance (RSA). However, Royal & Sun Alliance no longer underwrites tempcover.com car insurance policies in the UK. The underwriters are Provident Insurance PLC, Haven Insurance, Mulsanne Insurance, Markerstudy Insurance Ltd and Invictus Insurance Services.

How financially strong is tempcover.com?

In order to evaluate the financial strength of tempcover.com, it is necessary to investigate the ratings of its policy underwriters. Many companies provide financial strength ratings including Moody’s, Standard & Poor’s and A.M. Best’s.

The ratings publishers base their evaluations on information provided by the rated companies and analysis provided by other reliable sources. In most cases, there is no actual audio of the company.

Tempcover.com underwriters

Here are the financial ratings for tempcover.com underwriters:

• Provident Insurance PLC – Rated “BBB” by Standard & Poor’s on July 21, 2011 indicating “good” financial strength. The company withdrew from S & P’s listing. In 2007, A.M. Best rated Provident at “B++” but the company also apparently withdrew its listing.
• Haven Insurance – The company is not rated by major ratings agencies. Haven Insurance is regulated by the Financial Services Authority (FSA).
• Mulsanne Insurance – The company is not rated by major ratings agencies. A Gibraltar-based company, Mulsanne, uses The A&A Group and Hyperperformance Limited as administrators in the UK. Both of the latter companies are authorised and regulated by the FSA.
Markerstudy Insurance Ltd – A Gibraltar-based company not rated by major ratings agencies. Authorised and Regulated by the Financial Services Commission of Gibraltar according European Union standards.
• Invicta Insurance Services – Not rated by major ratings agencies, but authorised and regulated by the FSA.

Provident Insurance PLC is the only tempcover.com underwriter rated by the major ratings publishers. The company's financial security is good according to the ratings, but below the A class ratings that mark the companies with greatest financial strength.

S & P found that Provident had moderate potential for further upgrades and that its conservative investments and excellent capitalization were strong characteristics. However, the company suffered from the current unfavourable business environment.

While the other underwriters are not rated by the major ratings publishers, they are all ultimately backed by the Financial Services Authority of the UK. In case these companies should not be able to meet their obligations, the FSA covers client claims although there could, of course, be some inconvenience involved.

For the Gibraltar-based companies, policyholders must first make their claims using the Gibraltar-backed schemes, but if these fail, they also have recourse to the FSA for their claims. In this way, they are generally assured compensation in full although the UK Financial Services Compensation Scheme is a compensator of last resort; ie all other avenues must be explored first.

The policies underwritten by Provident Insurance PLC could be considered those offering the most informed choice on financial security. Unfortunately, the company withdrew from the ratings scheme, but there is still recent analysis available from Standard & Poor's.


Please note that this page is for your information only, we do not make any recommendations as to whether or not you should have dealings with this company. If in any doubt you should seek advice from a properly qualified and authorised advisor.

This information was, to the best of our knowledge, correct on 15th October 2011. If you are aware of changes since then please

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Copyright shorttermcarinsurance.biz 2011 All Rights Reserved. shorttermcarinsurance.biz is a trading style of Prudent Plus Ltd of Booths Hall, Booths Park, Chelford Road Knutsford Cheshire WA16 8GS. Quotes are provided by Sky Insurance Services Group Limited with whom we have a trading agreement only and who are authorised and regulated by the Financial Conduct Authority no. 469048. We receive from them a commission per policy purchased; this will not affect the premium you pay for your policy in any way.