High Court finds in favour of insurance companies QBE and Markel
The judge, Mr Justice Teare, ruled that SGC and individuals associated with it including its directors took "secret profit" through writing surety bonds in the name of the above companies that exceeded the agreed financial limits, failing to account for the premium due "namely, the difference between the sum paid to it as a premium and the premium in respect of which SGC accounted to QBE/Markel".
This secret profit had been paid to "unjustly enrich" those who had undertaken the fraud.
Richar
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 [email protected].
You are currently unable to print this content. Please contact [email protected]o.uk to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Videos/Podcasts
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
Subscribe to our daily newsletter for all the latest news
Most read
- Ghost broker sentenced for selling fraudulent Esure policies
- PremFina gears for growth with investment in tens of millions
- Hiscox boss Bronek Masojada to retire after 21 years in post
- Covéa boss James Reader exits
- ABL boss targets further expansion after WTW buy
- Aston Lark Ireland buys specialist motorcycle broker
- Allianz commits to continued broker focus after restructure