Zurich has stripped Capita Insurance Services of a loss adjusting account worth up to £8m per year.

In a shake-up of its loss adjusting panel, Zurich has moved away from working exclusively with Capita and Cunningham Lindsey.

It has instead divided its panel into nine separate areas - major loss, domestic, high net worth, non-domestic, building guarantee, construction and engineering, casualty, subsidence and hired-in plant.

Capita's sole presence in the new structure is on the major loss panel, which it shares with GAB Robins, Cunningham Lindsey and Crawford & Co.

Though the loss adjuster claimed it was "delighted" the insurer had maintained its relationship for major loss adjusting, analysts suggested that the move could spell the end of Capita's involvement in loss adjusting.

A market source said the Zurich business was worth up to £8m per year to Capita, which would now drop to around £600,000.

Another source said:

"After losing some major accounts this must cast a shadow over Capita's loss adjusting business and could mean the loss of up to 60 jobs."

  • The full list of Zurich's new loss adjuster partners is at www.insurancetimes.co.uk