Broker Chafford Insurance Consultants Ltd has been wound up following an
investigation by the Department of Trade and Industry (DTI).
Chafford operated as a broker from October 2001 to May 2004.
The company took premiums from customers, mainly high risk firms, such as construction companies, but often failed to arrange adequate cover.
Investigations by the DTI's Companies Investigation branch revealed that the company had made a series of blunders, including leaving clients who had paid premiums without cover.
Sole director Darren Chard told investigators he had underestimated the difficulties involved in dealing with high-risk customers and had a lack of capital to run the company properly.
