All Archive articles – Page 1163
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Archive
Independent class action touted
Independent Insurance's policyholders could bring a class action, with the possibility of claims against the directors of the company, the auditors, and other professional advisors, the Department of Trade & Industry and the Financial Services Authority.
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Archive
Independent: at least £62m unreported
The first signs of the black hole in Independent's accounts emerged yesterday when reports stated that £62m of claims had not been recorded.Sources say that Independent staff were underpricing new business, unaware of the scale of large pipeline claims that had not been entered into the books.The provisional liquidator, Pricewaterhousecoopers, ...
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Archive
Independent directors deny reinsurance knowledge
Two executive directors of Independent Insurance denied any knowledge of the reinsurance contracts that contributed to the company's demise, the Financial Times (FT) reported today.The FT said that finance director Dennis Lomas and deputy managing director Philip Condon had not been told about the contracts.The unfavourable terms of the contracts ...
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Archive
Serious Fraud Office to Investigate Independent
The Serious Fraud Office (SFO) will examine the events leading up to Independent Insurance's collapse, it confirmed last night.
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Archive
Independent Insurance goes into liquidation
Independent Insurance has plunged into liquidation after its board successfully applied for an emergency winding up order from the High Court over the weekend.
