Welsh Broker Goes Under After Danish Insurer Ends Contract

Law360, London (February 6, 2020, 4:43 PM GMT) -- A U.K. motor insurance broker has been shuttered after a contract with a struggling Danish insurer was terminated “prematurely” last year, the company’s administrator said.

Wales-based broker Staveley Head appointed Duff & Phelps to wind up the business on Wednesday, with most of its 85 staff out of a job.

Most of the policies it sold were underwritten by Gefion, an unrated insurer that has been under the microscope of the Danish Financial Services Authority for the past year over its “serious liquidity problems.” However Duff & Phelps did not disclose the name of the Danish company that severed the contract...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Companies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!