Collapsed Danish Insurer Sues UK Agent For Unearned Fees

By Lucia Osborne-Crowley (April 29, 2022, 4:34 PM BST) -- Qudos is suing its former U.K. insurance agent to claw back unearned commission on a deal that came to a sudden close when the Danish insurer went under.

Qudos Insurance A/S, which fell into voluntary liquidation in 2018 amid claims that its previous owner lied about its solvency ratio, is suing Building and Land Guarantees Ltd. in the High Court over a coverholding deal. This is a contract under which Building and Land Guarantees agreed to carry out some of the insurer's duties in foreign territories, in this case in the U.K.

The collapsed Danish insurer said that it agreed to...

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