Indie hearing postponed
The confiscation hearing for the three jailed Independent Insurance bosses has been postponed. The three-day hearing was due to take place on Monday, July 14, at Southwark Crown Court but will now be heard on August 7 and September 8 and 9. Michael Bright, Dennis Lomas and Philip Condon could have their assets seized following their conviction last year. The case continues.
RSA PI cover withdrawn
Following last week’s story that RSA has withdrawn solicitors’ PI cover for one and two partner firms, the insurer has confirmed that it will also decline renewals for such firms this year.
Close takes on £65m
Close Premium Finance’s decision to manage the run-off for rival Aascent Finance will see them take on £65m in pipeline business. Aascent was forced to cease trading after administrators Grant Thornton announced funding had dried up for the firm. According to the administrators, there were no other parties who came forward to manage the run-off.