Indie prosecution alleges under-reserving and non-reporting of claims
Prosecution counsel Andrew Baillie QC continued to set out the case against Michael Bright, Philip Condon and Dennis Lomas with a detailed breakdown of the alleged under-reserving and non-reporting of claims which, he said, could have amounted to as much as a £250m fraud, writes David Worsfold .
He focused on the claims systems used in Independent Insurance and, in particular, on a special audit carried out in April 2001 which discovered that £29.1m should be added to the claims reserves
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