The first signs of the black hole in Independent's accounts emerged yesterday when reports stated that £62m of claims had not been recorded.
Sources say that Independent staff were underpricing new business, unaware of the scale of large pipeline claims that had not been entered into the books.
The provisional liquidator, Pricewaterhousecoopers, is believed to be involved in talks with several insurers, including AXA, about the break-up of remaining assets. Assets include the loss adjusting business Property and Casualty Services.
It is also rumoured that a group of Independent managers is seeking funding for a start-up operation, potentially employing up to 50 Independent staff.
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.
