Bright rejects suppression of audit claim
Independent was the most “open" insurance company in Europe, its former managing director and chair claimed today. Returning to the stand after the early adjournment on Friday Michael Bright hit back at claims from Prosecution counsel Andrew Ballie QC that the insurer’s management “suppressed” its 2000 internal audit over concerns over delegated authority claims in the London Market, writes Jonathan Swift.
Mr Ballie told the jury that the report indicated that only 36% - in terms of value - of all Borderaux claims were reserved (£6.4m reserves for £17.7m). The report was subsequently withheld whilst
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