The dilemma of disclosure
Following the high-profile collapse of Independent Insurance, former chairman of the creditors of the Independent Insurance Group, Kevin Young, takes stock of the options now available to whistle-blowers and whether regulation can limit reputation-damaging collapses in future
With state regulation just round the corner, there can be little doubt that the industry needs the credibility that this will bring. Company failures in the insurance sector are perceived to be even more damning than in other business arenas.
The reputation of insurers and brokers alike was dented by the high-profile insolvency of Independent Insurance, and later by that of broker Ward Evans, but will the advent of the Financial Services Authority as regulator avoid such instances in the future
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