New venture plans to win unprocessed claims of failed Life Repair Group
The ex-directors of failed no-win, no-fee specialist Life Repair Group are planning to create a new venture to win the defunct company's outstanding claims business.
It is understood the directors, Timothy Schools and Glenn Wellard, approached those insurers that underwrote the policies of Life Repair Group, such as GoshawK. They want to take on the claims handling business of the thousands of unprocessed claims left when the company went into receivership.
Life Repair Group's administrator, Begbies Traynor partner Paul Stanley, said: "There are thousands of claims which need to be paid. Many of them need the doctor's report but the insurers involved do not have the time or the staff to go through all the files.
"This has meant a tendering process has begun to outsource the claims handling. I understand the former directors have been in talks with the insurers about taking on this work."
It is understood former directors have been in touch with some former employees asking whether they wish to join the new group.
An ex-employee said: "I had a phone call just before Christmas from Wellard telling me he was going to start another company."
Stanley said he thought the directors would be consulted by the insurers because "the directors are the only ones who understand the claims files".
GoshawK Syndicate 102, which underwrote the policies, is now in run-off under the management of Jeremy Pinchon, head of reinsurance and claims at Lloyd's.
Neither Wellard nor Schools responded to Insurance Times' inquiries.