Millburn is thought to be the first insurer to fail since the PRA took over last April

Certo Loss Adjusters has been appointed to deal with indemnity claims for failed insurer Millburn.

Millburn’s administrators announced Certo will deal with indemnity claims resulting from property damage caused by fire or a storm.

Neil Mather and Christopher Morris, partners of corporate recovery firm Begbies Traynor, were appointed Millburn’s administrators in December after the insurer said it would be unable to pay claims.

It is thought to be the first insurer to fail since the Prudential Regulation Authority (PRA) took over the regulation of insurers in April 2013, and policyholders may be entitled to compensation from the Financial Services Compensation Scheme.

Millburn first got into difficulties earlier in 2013 when it stopped writing business voluntarily following a review of its business by the PRA.

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