Ex-insurance broker jailed for pocketing £46k from bouncy castle hire companies and amusement parks
A former insurance broker has been jailed for two years, after he stole £46,125 by editing a wholesale broker’s contracts to increase the cost of premiums paid by his clients, the City of London Police have confirmed.
Gary Whipps, 32, of Church Road, Thundersley, sourced insurance for companies that ran amusement parks or offered rentals on inflatable play equipment, bouncy castles and soft play areas.
According to the police, between 1 January 2018 and 1 December 2020, Whipps edited genuine contract documents for 26 clients to increase the premiums. He then paid the insurer the correct premium and pocketed the difference.
Whipps, pictured, pleaded guilty at Chelmsford Crown Court on 8 March 2024 to 39 counts
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 Insight
Review of the Year 2024: Markerstudy’s Gary Humphreys
Gary Humphreys, group chief underwriting officer at Markerstudy, hails the completion of the Atlanta deal, dreams of having the MGA’s brand adorn the Tottenham Hotspur Stadium and mulls sitting on the sofa and doing Channel 4’s Gogglebox.
Sicsic FOI uncovers insurance firms’ £2.7m S166 bill
Insurers and insurance intermediaries paid a total of £2.7m for Financial Conduct Authority-commissioned skilled persons reviews in the financial year 2023/24, according to a Freedom of Information request by Sicsic Advisory.
JMG expands into North Wales with Anchor buy
JMG Group company, Butterworth Spengler Insurance Brokers, has bought Anchor Insurance, growing its presence into North Wales.
FCA reveals review findings of first annual Consumer Duty board reports
The Financial Conduct Authority has set out five areas for improvements and five good aspects having reviewed the first annual Consumer Duty board reports from 180 firms.
£1.3bn tech firm targets brokers with premium finance launch
Credit technology provider Abound has launched a new premium finance solution which it claims will “revolutionise” the sector by replacing “slow and outdated direct debit system with instant, automated payments”.
Review of the Year 2024: Ageas’ Middle, Linklater, Clarke and Beckett
The senior Ageas team wish the term ghost broking is never uttered again, hope for a sustainable ecosystem for the repair and re-use of electric vehicle batteries, and consider what an insurance brokers showstopper might look like on Great British Bake Off.
Lycetts buys broker Cheviot
Lycetts has strengthened its presence in the North East, purchasing fellow Newcastle-based broker Cheviot Insurance Services.
FOS forecasts levy freeze at £70m
The Financial Ombudsman Service is planning to maintain its levy for 2025/26 at the £70m total set this financial year.