Premium Credit and Prompt have written to commercial customers, telling them they must continue their payments despite the collapse of Independent Insurance, the Daily Telegraph reported this morning.
The credit firms have said that the contract to pay was with them, not Independent, so payments for insurance with Independent must continue although commercial customers have had to seek new insurance elsewhere following Independent's liquidation.
Prompt chief executive Bob Golden told the Daily Telegraph that his company's exposure to Independent was less than £1m.

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