Loss adjusters gain on sale of business

THE Margin did not know that there is so much money in loss adjusting - the business where people go checking out insurance claims. But Fisher's acquisition of the Farrell Group and Applied Technology Adjusting for an initial £4.2 million shows how much money is involved.

Last year, Farrell had a loss of £69,000 on turnover of £3.15 million. That might not look very impressive but that little loss came after the directors got "special" bonuses of over £750,000. And on top of that, Farrell bod David Farrell is staying on for the new owners on a tidy salary of £115,000 a year. Nice one!