Insurer director banned for keeping £400k premiums

Mark Hazelwood, of Hertfordshire-based Synergys Ethical, failed to pass on to insurers almost £360,000 in customers' premiums, an FSA investogation found. It adds he failed to hand over a further £25,000 in premiums as director of unauthorised business Aquote. Synergys arranged locum insurance for doctors, covering GPs for any liability they might face while employing temporary or locum medical practitioners. The company was referred to enforcement when the FSA became aware one of Hazelwood's customers had attempted to make a claim on their policy, but received no payment. The FSA s...