Prosecution: Profit commissions paid on false information
It was alleged today that Independent’s tactic of keeping claims reserves over £100 000 on the whiteboard and not entering them onto the company’s system led to inaccurate loss ratio calculations and unwarranted payments of profit commissions to brokers, writes Ralph Savage .
The prosecution called its next witness today, former UK property underwriting manager Stephen Coates, who under questioning from James Pavry QC for the CPS explained that from late 2000 he tried to
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