Oxygen to sell off remaining assets - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including how market commentators believe large employee expenses and lack of profits are behind the demise of seven-year old Oxygen Holdings, as it prepares to sell off its remaining assets.
Chief executive Nigel Barton attributed "tough trading" and "adverse situations" to the sale of Robertson Taylor to Entertainment Insurance Partners.
In other news, the IFB has been warned by commercial motor insurers to take the issue of crash for cash with commercial vehicles off the "back burner"; Brightside has rebutted policyholder complaints about the practices of its online broker eCar, following claims it has been reported to the FSA and Financial Ombudsman Service; bosses at RSA - the insurer responsible for covering Taunton Rugby Club - have said it is too early to comment on a police investigation into claims that smoke from a club firework display may have caused the M5 crash last Friday.
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