Market inflation.
After suffering from bad press over the handling of Independent's collapse, the premium finance sector is expecting a boost, says Rachel Gordon, with new entrants set to pump up the market.
The collapse of Independent Insurance highlighted some hithertounrecognised problems in the premium finance market, raising the issue of
who is liable for premiums paid up front if an insurer fails.
Premium Credit in particular came under criticism for its aggressive
approach to reclaiming loans, with brokers angered by a letter sent to
policyholders telling them to pay up for worthless cover or face the
consequences.
The premium financer faced losing millions, leading to its initial attempt
to
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