Independent Insurance to cut 1,000 jobs

More than 1,000 jobs are to be lost at the collapsed Independent Insurance company it was announced today.

PricewaterhouseCoopers, the provisional liquidators of the insolvent group said that 1,044 personnel would lose their jobs, mainly in sales, marketing and underwriting new business.

Most of the jobs to be lost will be in Cheadle, London and Edenbridge. Independent collapsed after being hit by rising personal injury claims, the company's executives may now face lawsuits fron creditors and employees.

The Serious Fraud office has also begun its own investigation of the company.