PricewaterhouseCoopers (PWC) faces a crunch meeting today on whether its Independent Insurance deal will go ahead.

PWC liquidator Dan Schwarzmann held a number of discussions with representative brokers from across the UK to settle the details of the deal on the return of premiums and commissions before it was presented to the rest of the market.

However, last week one group of brokers refused to accept PWC's request that they return commission on unexpired portions of policies.

Yet Schwarzmann said on Tuesday that he had met a key player in the representative group to iron out problems and was confident the deal would go ahead.

The brokers are due to meet PWC again today.

It is understood that the deal will fail if the dissenting brokers continue to disagree with PWC.

If it did not go ahead, PWC could take legal action against the brokers to force them to return premiums and commissions.

One of the breakaway brokers said he would not return commissions on the unexpired portion of premiums, as set out in the deal, if PWC did not return the unexpired premiums to his clients.

He said the other representative brokers had agreed to the return without understanding what they had agreed to. Another broker said he feared the representative brokers agreed to the return without "thinking things through properly".

"There are too many issues being glossed over," he said.

However, Schwarzmann said he had already made a number of compromises.

"I'm conceding, they're conceding, that's why it's a deal," he said.

He said a market deal of such magnitude, for which he did not know a precedent, was never going to be easy to settle.

British Insurance Brokers' Association (Biba) chief executive Mike Williams said he was confident any problems would be resolved.

"We want to spend as much time as we can thrashing it out," he said.

Meanwhile, the Institute of Insurance Brokers (IIB) has invited its arch-rival the General Insurance Standards Council (GISC) and Biba to a lunch in September to bury the hatchet and discuss regulatory issues.