The news that Norwich Union has suffered a £1.5m loss from alleged staff fraud joins several other well-known names that have been victims of employee misbehaviour in recent years.
And, after the Policyholders Protection Act [1975] was repealed, just before the demise of Independent Insurance, the subsequent Financial and Market Services Act made brokers who collected premiums by credit card liable to return payments to insureds.
So, do all insurance companies carry adequate professional indemnity cover to meet these types of losses?
John Lynch
Insurance Advisory Service
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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.
