Renew Life to enter into administration

PI insurance revoked amid market ‘nervousness’

Adam Saville
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Renew Life to enter into administration

Life insurance broker Renew Life Risk Management files for insolvency amid Covid woes

As COVER understands, one of Renew Life's main lead suppliers - a Welsh-based firm responsible for 35-40% of its sales - has ceased trading as a result of Covid business interruption. This combined with the prospect of revoked professional indemnity (PI) insurance early this year has forced the telephone-based life insurance brokerage to enter proposed administration. Renew Life owner Colin Potts told COVER that the trouble started in December when he was informed that his firm's PI insurance,...

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