The English ICA has agreed to investigate Pannell Kerr Forster over its treatment of former partner Derek Turner, who lost #100,000 after illness forced him to retire early.
The institute’s professional standards office will look into Turner’s claim that the firm’s Worcester office, where he was based, reneged on an agreement to fund his dispute with its insurers. It will also look into allegations of irregularities in the firm’s accounts, which Turner believes are material to his case.
The investigation will go ahead only after an appeal to institute president Chris Swinson. Turner’s initial appeals to the standards office for an investigation were rebuffed.
Swinson advised Turner to take his case to the investigating committee, which will decide if the evidence submitted warrants a full inquiry.
Turner has accused Pannells of signing a ‘near worthless’ permanent health insurance policy which allowed the insurer to pressurise him into accepting a deal worth half the #200,000 he was due.
He also said Pannells failed to abide by agreements when it demanded he return half the #20,000 legal costs incurred during the dispute.
Turner was diagnosed with spondylitis, a severe form of arthritis which leads to intense headaches and back pains, in the spring of 1995.
The insurer, Permanent Insurance said it had settled the case in good faith. Pannells was unavailable for comment.
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