"Take the money" from Independent liquidators

Professional Adviser
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Advisers who have lost money in the collapse of Independent Insurance are being advised to take the l...

Advisers who have lost money in the collapse of Independent Insurance are being advised to take the liquidator's settlement offer as intermediaries are unlikely to be paid what they are owed. The Institute of Insurance Brokers' director general, Andrew Paddick, has recommended that brokers - who have yet to be compensated for their losses in the liquidation of Independent Insurance last year - should accept whatever deal they are offered in the interests of policyholders. Paddick - who is known more for his heated row with the General Insurance Standards Council (GISC) and its attempts t...

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