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
- Ardonagh picks up selected renewal rights from Ageas Retail in £7m deal
- Eldon Insurance states none of its data was used by Leave.eu campaign
- Close Brothers and other creditors to lose out following collapse of Ignition Select
- Stackhouse Poland buys Honour Point
- Primassure moves from SSP and Open GI to Applied
- Is the talent pool drying up?
- Aggregators eating into SME business – GlobalData