More than 20 companies, left owing up to £15,000 each in legal fees to Independent Insurance's panel solicitors after the insurer's collapse, have signed up to the new Claimex action group.
Loss adjusters Claimex and legal firm Boyes Turner launched the group earlier this month after a number of Claimex's clients received demands for money from Davies Arnold Cooper (DAC), Davies Lavery and Berrymans Lace Mawer.
The three legal firms are attempting to recover the £2m owed to them by Independent from the policyholders on whose claims they acted.
Claimex spokesman Richard Hanson-James said there had already been enough interest to make it viable to seek senior counsel's opinion on the case.
Hanson-James said the policyholders who contacted the group had received legal bills ranging from £2,000 to £15,000.
“A lot of brokers are rolling all their clients' cases to us and a lot of solicitors who had already been consulted independently on the issue have contacted us,” he said.
“We're optimistic at the moment at the volume of interest expressed.”
Meanwhile, Creditors of Independent Insurance Group (CIIG) chairman, Kevin Young, said the rival Class Law group was much more “upbeat”, despite recent fears it would not have the money necessary for legal action.
On August 9, Young said the CIIG was £1m short of the total needed to take action against the main players in the Independent collapse.
However, he said there had been a recent surge in interest and the action was now “back on track”.
Leading counsel are due to give their opinion on the case by mid-September.
