Hodges insists £15m misallocation has been "immediately rectifed"

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Towergate Group CEO Mark Hodges has insisted that the £15m misallocation of client and insurer monies has been "immediately rectified".

The broker's 2013 Q3 bondholder report today flagged up the issue which took place between November 2007 and January 2011.

Speaking to Insurance Age Hodges insisted that the issue has been taken "seriously".

"This is a historical issue which was immediately rectified, there has been no impact on our earnings, clients and insure partners - this doesn't change the

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