The future of loss adjuster Property & Casualty Services (PCS) looks uncertain following the provisional liquidation of its parent company Independent Insurance.

The company's liquidator Pricewaterhousecoopers (PWC) was unavailable for comment, but there has been speculation that chief executive Barry Woodward and the company's directors are considering a management buy-out.

A spokesman for the loss adjusting company said PCS would carry on as normal in the wake of Independent's troubles.

Originally, PCS received the majority of its business from Independent, particularly liability and material damage claims.

But over the past two years, it has doubled its amount of non-Independent business by working with insurers such as Ecclesiastical and Congregational & General.

It has also doubled its staff to 400 over the past 18 months.