Independent Insurance's liquidator, Pricewaterhousecoopers, has posted an advertisement on the company's website looking for claims negotiators earning up to £40,000 per year.

According to the company's spokeswoman, a new company to deal with Independent's run-off claims will be created in the next few weeks. The new venture has been given the working title of Independent Run-Off Company and will take on a similar role to Lloyd's of London's Equitas.

“We want to establish a solvent company that can deal with the company's outstanding claims. With more than 500,000 policies in the portfolio, we think it could take a further two years until the whole affair is cleared up,” she said.

However, she stressed this was not a case of the phoenix rising from the ashes. “Independent Insurance is liquidated and this does not herald its return,” she added.

Two or three claims negotiators are needed and hiring will take place over the coming three to four weeks.

Anyone interested in applying should send CVs to Diane Bromley, executive manager, Personnel Department, Independent Insurance, 2 Minster Court, Mincing Lane, London EC3R 7BB. Ex-Independent staff should not apply, according to a personnel officer.