Independent Insuranceliquidator Pricewater-houseCoopers (PWC) has started distributing copies of its compromise deal with brokers over the return of premium and commission.

The content of the agreement was agreed with a representative broker group.

Brokers participating in the deal must return signed copies of the agreement to PWC by 22 August.

PWC has warned that if brokers do not return the agreements by the due date, they would be excluded from the settlement.

"The global settlement will also be at risk and may not proceed if signed agreements are not returned by this deadline," a spokeswoman said.