UK insurer may face fraud investigation

Independent Insurance, the UK insurer which on Monday called in liquidators after uncovering unquantifiable debts, will find …

Independent Insurance, the UK insurer which on Monday called in liquidators after uncovering unquantifiable debts, will find out within weeks whether it must face a full-scale fraud investigation.

A spokesman at Britain's Serious Fraud Office (SFO) said yesterday it would take some time to examine documents it received on Monday from the regulator, the Financial Services Authority (FSA), which is running its own inquiry into the commercial insurer.