Berkeley Burke has reached an out of court settlement with Independent Insurance over premium and commission payments that it owes the company.
In 2002, Independent's joint professional liquidators concluded a market settlement with more than 90% of it's agency brokers, on the basis that they paid all time-on-risk premium held plus return commission.
Berkeley Burke, however, was one of the brokers who declined to participate in the market settlement.
The company has now agreed to pay Independent the full premium, which it collected from Independent's policyholders.
The company will also bear its own legal costs and will pay the legal expenses incurred by Independent.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
