FSA issues warning over insolvent brokers
The Financial Services Authority (FSA) has today issued a warning about two insurance brokers, Orion Direct of Clitheroe, Lancashire, and Peppercom of Cheltenham, Gloucestershire.
The firms’ main activity was providing commercial motor insurance for taxis, learner driver instructors and haulage firms and insurance to a range of social clubs and restaurants.
They are now in administration and no longer conduct general insurance business or any activity regulated by the FSA.
The FSA warned that premiums paid by some customers to Orion Direct or Peppercom may not have been passed to the insurer and that any customer in this position may not have valid insurance cover in
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Personal
Insurtech enters new product vertical after broker tie-up
Broker PJ Hayman has teamed up with Urban Jungle to offer travel insurance to the insurtech’s home policyholders.
Acorn Group buys telematics specialist MyPolicy
Merseyside-based Acorn Group has bought MyPolicy, a telematics insurance broker specialising in young drivers and low mileage drivers.
MarshBerry: Labour CGT change sees 2024 hit deal record after 41 buys in Q4
The final three months of 2024 saw the second highest number of quarterly broker deals, according to the latest M&A market update from MarshBerry.
Caravan Guard profits and turnover grow for 2024
Halifax-based Caravan Guard has reported a 9.9% increase in profits before tax to £3.99m for the year ended 31 March 2024.
Direct Line accepts Aviva’s £3.7bn takeover offer
Direct Line has accepted Aviva’s improved offer to takeover the company this morning in a deal one analyst has described as a "bold move that could turn out to be a gift that keeps on giving".
Aviva-target DLG launches on Compare the Market
Aviva takeover target Direct Line Group has launched three new branded motor insurance products on Compare the Market, marking its entry on to price comparison websites.
Review of the Year 2024: Flood Re’s Stuart Logue
Stuart Logue, interim CEO at Flood Re, reflects on its first Parliamentary drop-in sesson and the Flood Resilient Garden at the Chelsea Flower Show as well as sharing a prediction about Build Back Better.
Review of the Year 2024: Axa UK’s Paul Tombs and Matt Field
The Axa UK duo of Paul Tombs and Matt Field reflect on award wins; the fall-out of the Markerstudy-Atlanta deal and the success of its partnership with Liverpool FC.