Lloyd's of London confirmed yesterday that police have been called in to investigate a possible public liability insurance selling scam.
A 52-year-old man trading as an insurance intermediary under the name Irmac Ltd has been arrested.
The allegation is that policies have been sold to equestrian centres in Australia claiming to have been underwritten by Lloyd's, when in fact no such cover exists.
The City of London Police, who are working on the case, have released the man on bail.
This is the third fraud case in a year police have investigated involving the abuse of Lloyd's of London's brand name.
