Miller Insurance Services director 'to step down as of November'
Industry sources say he will establish rival business with partners including FJ Lock
The director of Miller Insurance Services fleet business is leaving the broker to set up a rival business, Insurance Times understands.
A number of industry sources have confirmed that Chris Dunsmore is set to go in early November after 11 years with the company. He is understood to be parting company with the broker to establish a new business with several other partners, including Billericay commercial broker FJ Lock.
According to a broking source, he has been given several Letters of Authority from some of Miller's biggest fleet clients to continue placing their business after his departure.
As a senior figure in the Lloyd's market, Dunsmore's departure would be damaging to Miller's fleet business. There was speculation that Miller was now considering whether to suspend its fleet book. But John Bissell, operations director at Miller, told Insurance Times that Dunsmore had not left the company, and insisted that Miller had "not entered into an agreement regarding Chris Dunsmore moving from the company".
Bissell added: "As part of a normal strategic review of the motor fleet account, Chris was tasked to consider all options, this may have created unintentional speculation. As to it [Dunsmore's departure] being a possibility in the future - anything in this market is possible."
Bissell said as soon as the review was complete it would "advise the market if there were any actions arising, which may be of interest or relevance".
FJ Lock was unavailable for comment.