June

Broker faces prison

A broker is facing prison after admitting selling £10m of policies without any underwriters to back them. John Walker ran Edinburgh-based Tribune Risk Services before the Financial Services Authority discovered that 43,000 personal lines policies had no cover in place in December 2003. Premium finance company Can Do lost around £2m in unpaid settlements and insurer Cox, now Equity, estimated at the time that it cost them £4.5m.

Broker opens new office

A Hampshire-based broke