An update for Drake's former policyholders.
Q: Are our clients ever going to receive any money following the collapse of Drake last year? A: ...
Q: Are our clients ever going to receive any money following thecollapse of Drake last year?
A: Drake's provisional liquidator Deloitte & Touche has had the job of
analysing approximately 200,000 motor policies.
It faced the unenviable task of looking at each policy to ensure it met
with the qualifying criteria. In addition, it had to calculate what the
90% pro rata return premium to policyholders, which ultimately was to be
paid by the Policyholders Protection Board, would be.
The gross annual
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