FSA issues warning over insolvent brokers
The Financial Services Authority (FSA) has today issued a warning about two insurance brokers, Orion Direct of Clitheroe, Lancashire, and Peppercom of Cheltenham, Gloucestershire.
The firms’ main activity was providing commercial motor insurance for taxis, learner driver instructors and haulage firms and insurance to a range of social clubs and restaurants.
They are now in administration and no longer conduct general insurance business or any activity regulated by the FSA.
The FSA warned that premiums paid by some customers to Orion Direct or Peppercom may not have been passed to the insurer and that any customer in this position may not have valid insurance cover in
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