Ban for fraudster insurance broker

Neil McKay of Ideal Insurance Services Ltd was leaving his customers uninsured and pocketing their monthly premiums. During a visit in April 2008, the FSA found McKay had arranged insurance contracts before cancelling them without his customers’ knowledge and then kept their premiums for himself. Clients were left without insurance, in many cases for a substantial period of time. Lancashire-based McKay also covered his shady past by failing to inform the FSA that he had been found guilty of eight counts of obtaining property by deception in 1996. He failed to disclose the conviction and...