Latest News – Page 2933
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Independent class action touted
Independent Insurance's policyholders could bring a class action, with the possibility of claims against the directors of the company, the auditors, and other professional advisors, the Department of Trade & Industry and the Financial Services Authority.
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Scheme for paying Independent creditors could take one year to produce
Insurance Times learned it could take up to a year to produce a scheme for creditors.
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Independent: at least £62m unreported
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, ...
