FSA issues broker warning

The Financial Services Authority (FSA) has issued a warning regarding 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, in addition to cover for a range of social clubs and restaurants.

However, they are now both in administration and can no longer conduct general insurance business or any activity regulated by the FSA.