# Resources In Insurance Group PLC (03922895)

> Why UK company 03922895 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03922895

- **Status:** Administration ended
- **Administration began:** 2013-12-20
- **Administrators' firm:** FRP Advisory
- **Formerly:** The Claims People Group PLC
- **Incorporated:** 2000-02-10
- **Location:** London
- **Industry:** 74909 Other professional, scientific and technical activities n.e.c.

## Why it went into administration

- Cash flow / liquidity pressure
- Competition / price pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Parent or group failure
- Weather / natural events

## From the administrators' statement

The Company was incorporated in 2000 with its principal activity being to provide claims management and consultancy services to the insurance profession. The Company operated from a small rented office in London but employed approximately 100 people through a subsidiary either directly or on a subcontractor basis.

The Company’s key chents included RBS, AXA, Traveller Insurance Co & Hastings Direct I understand from the Company’s management team that the cash flow problems experienced prior to the Administration materialised from a significant downturn in property claim instructions following benign weather conditions during 2011 and 2012

However, the Company had a sustained history of losses, being £1 2m in the 15 month period to 31 March 2013 and subsequently a further loss of £249k in the 8 months to November 2013 The November balance sheet showed net habilities of £907k

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03922895/filing-history/MzA5MjgwNDM1NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03922895

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.