Groupama has hinted that its audit into the intermediary Lloyd Manley may uncover far more cases of its agent overcharging fees for placing premiums.
The insurer launched an investigation into the Staffordshire intermediary's accounts after Insurance Times revealed this month it had overcharged £700 in fees to a working men's club for two years running. So far, there are at least seven cases of overcharging to which Lloyd Manley has admitted.
But Groupama has refused to confirm that it will publish the full details of its audit in the future.
“Groupama is committed to the commercial broker market,” said managing director Stephen Hartigan.
“We deplore malpractice and misfeasance of any kind and, as many in the commercial broking community will testify, we are not slow to impose sanctions and penalties where appropriate within the accepted frameworks which are in place.
“However, we are not prepared to air any further details relating to this matter in the press, at least until we have concluded our discussions with Lloyd Manley on these very serious issues.
“We believe we are behaving in a professional manner and maintaining the standards we would adopt with any of our commercial brokers who, in our view, have the right to explain themselves to their business partners before any wider circulation of the issues and facts.”
