Five firms have won panel places to handle insurance litigation claims on behalf of a group of London boroughs.
Plexus is the defendant arm of Parabis Law, which last week gained SRA approval for conversion to an ABS, clearing the way for a £50m investment from private equity house Duke Street Capital (22 August 2012).
The ILC is a partnership made up of local authorities in Kingston-upon-Thames, Camden, Croydon, Haringey, Harrow, Islington, Lambeth and Tower Hamlets and was set up with the aim of improving value in services.
Last year the ILC selected Aviva, Lloyd’s, Ace and Zurich to sit on its panel of insurance providers. Aviva provides crime cover, Lloyd’s terrorism cover, Ace provides excess of loss cover for crime policies, and Zurich Municipal covers motor, commercial property, engineering inspection and school journey travel risks.
The London Borough of Harrow recently confirmed that its merger with the London Borough of Barnet, which had been scheduled to complete last moth, will now go ahead in September (21 August 2012).