Claiming for compensation.
Q: What can brokers do if they have outstanding claims for commercial clients insured by Independent? Will there be any compensation?
The Independent story, it seems, is going to run and run. If theclaims are for a protected class of business, such as the Employers'
Liability Act or the Road Traffic Act, then the Policyholders' Protection
Board will be the ultimate 'insurer'. If, however, the claim is in
relation to a non-protected class then the insured will become an
unsecured creditor, so there is no protection.
The British Insurance Brokers' Association has also faced questions about
whether commercial clients should
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