Cox Insurance moves swiftly to assist Tribune Customers
Cox Insurance Holdings Plc (Cox) has moved quickly to minimise the impact of Tribune Risk and Insurance Services Ltd’s (Tribune) provisional liquidation on the reputation of the insurance industry and to provide assistance to Tribune’s customers. Its actions have gained the full support of BIBA.
Tribune, a Scottish insurance intermediary (which is not part of Cox) was placed into provisional liquidation by the Financial Services Authority on 10 December 2003.Cox had a relationship with Tribune through its premium finance subsidiary, Can Do Finance Limited (“Can Do”). It is currently estimated that this situation could lead to an impact on pre-tax profits of up to £4.5m in the current financial year.
To mitigate the impact on Cox and Tribune customers of Can Do, Cox has confirmed that all
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