Insurance insolvencies up in September

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However, the rise still meant that only 0.04% of the sector failed during the month with five companies going out of business.

Overall the figures from the global information services company showed a 3.1% drop in the number of business insolvencies in September 2012 compared with 12 months ago. A total of 1,679 companies failed.

Smaller firms, those falling into the category of one to 50 employees, saw the greatest improvement in average insolvency rates compared with September 2011.

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