PricewaterhouseCoopers (PwC) - the liquidator of Independent Insurance - is threatening to sue insurance brokers who owe money to the collapsed group, according to reports today.
It is believed PwC will sue the brokers if they continue to fail to hand over premiums owed to Independent. The brokers argue that they were misled about the company's finances so are entitled not to pay as the policies are now worthless.
PwC has taken action by writing to Class Law, which acts for a number of brokers, demanding that they comply with a Biba trade body arrangement that stated brokers should provide information on their dealings with Independent so they can reach a settlement.
