UK insurers are braced for a £70m cash call - the first in almost a decade - from the Policyholders' Protection Board, according to press reports.
UK insurers are braced for a £70m cash call - the first in almost a decade - from the Policyholders' Protection Board (PPB), according to press reports.
The compensation body is believed to be preparing to approach insurers for a levy to compensate policyholders affected by the collapse of Independent Insurance and Chester Street.
CGNU has reported that it has set aside £14m in anticipation of a demand from the PPB.
