Independent insurance auditors fined over failings
By Gavin Hinks, editor of Accountancy Age, www.accountancyage.com . An accountancy disciplinary body has hit KPMG and the lead audit partner for Independent Insurance, Andrew Sayers, with a fine totalling £500,000 for conducting processes "seriously below" what was expected.
In its report on the collapsed insurer, the Joint Disciplinary Scheme this week also revealed the accountants would be ordered to pay costs of £1.2m.
The fine against the 'big four' accounting firm
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Crawford & Co to sell legal services arm to law firm
Loss adjusting and claims management firm Crawford & Company has entered into a ‘process’ with specialist insurance law firm HF, which will see the latter buy a major part of the assets of subsidiary Crawford Legal Services, Insurance Post has learned.
Embedding carbon accountability in claims
With extreme weather driving record claims, Ben Blain, head of property at Verisk Claims, explains how insurers must now measure and cut carbon in the claims supply chain in order to turn net-zero ambition into operational reality.
60 Seconds With... Charles Taylor’s James Cranmer
James Cranmer, training programme manager at Charles Taylor Assistance, blends a love of learning, tech and tidy spaces.
Burst pipes cost Allianz £20m across two years
Allianz paid out £20m for damage caused by burst pipes in 345 claims between the start of 2023 and September 2025.
Allianz claims director resurfaces at Weightmans
Allianz Personal’s former claims director Caroline Johnson has joined Weightmans as its claims director and executive board member.
Trump’s stance pushes insurers to soften Net Zero goals
More than a quarter (27%) of the UK’s major general insurers have noted Donald Trump’s stance on climate change has had some negative impact on their organisation’s Net Zero strategy in 2025.
Four biggest challenges facing insurers in 2026 revealed
Insurance Post reveals the four main challenges general insurers face in 2026 and the solutions experts from EY, the International Underwriting Association, AM Best, Moody’s, S&P, KPMG, Pathlight Associates and Sicsic Advisory say will matter most in the year ahead.
Why can’t the FCA see and act on the full claims picture?
Editor’s View: Emma Ann Hughes argues the Financial Conduct Authority can either continue to defend its frameworks after Which?’s super-complaint or accept that collecting data is meaningless unless it triggers earlier, tougher and more visible intervention against providers that repeatedly fail policyholders.