One of the UK's top insurance firms has confirmed it is withdrawing car insurance for residents of the Isle of Man.
Admiral blamed changes to the law in Gibraltar, which has an impact on Crown Dependencies, for the decision.
The company has informed customers on the island about the change, which came into force on September 1.
Isle of Man Today's sister title Gef contacted the company after being told that the company had informed customers of withdrawing their services due to changes in the law.
A spokesperson for Admiral confirmed told Isle of Man Today's sister title Gef: ‘The Government of Gibraltar has brought in new legislation – Financial Services (Prohibited Insurance) Notice 2023 – which means a Gibraltar insurer can’t enter into motor insurance contracts with customers located in the Channel Islands or Isle of Man.
'Both our car and van insurance products are underwritten by Admiral Insurance (Gibraltar) Limited so unfortunately, that includes us.
‘Our other insurance policies aren’t affected by this law change, so there won’t be changes to our customers with pet or travel insurance with us. Our existing customers who have a car or van policy with us will still be insured right up until their renewal date – even if that’s after September 1 – but once they get to their renewal date, they’ll need to insure their vehicle with another provider.
‘Customers are also still able to make changes to their policy right up to their renewal date, except adding another vehicle. New customers who live on the Isle of Man won’t be able to insure their car or van and our advisors will let them know if they call us, or they will be unable to continue with their quote online once they put in their address.’