The British Insurance Brokers' Association (Biba) has organised a group of Independent Insurance club brokers to lobby the failed insurer's provisional liquidator on commission issues.
PricewaterhouseCoopers (PWC) liquidator Dan Schwarzmann had demanded club brokers return their commission on the unexpired period of Independent policies. However, he told Insurance Times he was willing to listen to arguments from brokers against paying.
Biba chief executive Mike Williams met Schwarzmann last week and said he decided to form the broker group in response to the meeting.
Williams said Biba had written a paper on the return of premiums and commission by both club and non-club brokers. Brokers were checking this and it would be given to PWC by Friday
(9 November). "Dan has agreed to accept payments of premiums net of commission from non-club brokers, but has always reserved the right to reconsider his position on that."
Williams said he was seeking no more than six club brokers to join the group.
