I have just spoken to the claims department at Aurora Corporate Services (handling Independent run off claims) to ascertain the present position regarding a claim.
They confirm that the loss adjusters'report agreeing the claim was received on
8 February. Despite reminders as to a likely settlement date they have today confirmed that a deed of assignment will be sent to our client. Once received, between the FSCS and Aurora it will take a further four to six weeks for funds to be available to pay the claim.
Approximately six months from the date settlement agreed. Their manager said this was very quick in terms of previous liquidations. No comfort to my client.
The name of this new department set up to handle these claims is the rapid settlement team. This must rate as the understatement of the year.
Richard Mitchell
Director
ARG Group
