Independent Insurance trial begins today
Insurance case commences at Crown Court today following alleged four-and-a-half-year fraud
The trial of three former directors of failed UK company
Independent
Insurance began today at Southwark Crown Court.
The collapse of the Indie, which went into liquidation in 2001, had a major
impact on the UK general insurance sector, leaving policyholders, brokers and
the company’s own staff in dire straits.
The company’s former finance director, Dennis Lomas, former chairman Michael
Bright and former deputy managing director Philip Condon have all been charged
with conspiracy to defraud between 1 Jan 1997 and 17 June 2001.
The original trial date had to be pushed back by two weeks due to
administrative issues, but the outcome of the case will be keenly followed by
the insurance sector.
Sister titles to Accountancy Age, Post Magazine, Reinsurance
Magazine, Professional Broking and Insurance Age have established an online
service dedicated to the forthcoming trial.
Check the site out now at
http://www.theindietrial.co.uk
and sign up for regular bulletins on the case as it progresses.