Yet a few days ago, this rule of thumb was shattered by the disclosure in Towergate's bondholder report that the consolidator had misallocated £15m of client and insurer monies between restricted and unrestricted accounts between November 2007 and January 2011.
Although Towergate's CEO Mark Hodges insisted that the situation had been "immediately rectified" the very nature of the situation has thrown up far more questions than answers.
The fact that this issue went on for more than four years is
- CBL Insurance placed into liquidation
- Marsh unveils Marsh-JLT Specialty plans
- Gallagher set to ink another deal before Christmas
- Up to 50 jobs at risk amid RSA specialty and wholesale restructure
- Top 100 2018: Find out who made the list
- Fresh founder Lisa Powis rejoins insurance sector with tech business
- Aviva on top again in Brokerbility satisfaction survey