Row within Gooda group
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A ROW broke out within the Lloyd's insurance market as one of the leaders of a group that is seeking financial restitution of up to pounds 700m for 1,500 underwriting members facing ruin claimed that he had been ousted as head of the action group while he was on holiday.
Last month the committee of the action group fighting for financial help for members whose affairs were managed by the Gooda Walker underwriting agency announced that Alfred Doll-Steinberg, the chairman of the group, had decided to spend more time on his own affairs.
The committee said that Mr Doll-Steinberg had therefore decided to step down as chairman.
Mr Doll-Steinberg claimed yesterday that the announcement had been made without his sanction while he was away on holiday. He has called for a meeting of the entire Gooda Walker action group at which he intends to see that a new committee is elected.
Mr Doll-Steinberg angered members of the action group last month when he proposed, along with members of his committee, a plan in which committee members might have secured up to pounds 300,000 each for themselves in the event of any successful outcome of legal action.
The action group is planning to sue a range of companies that it claims were responsible for the losses.
Mr Doll-Steinberg was forced to abandon his remuneration plan. But in fresh proposals he has asked the Gooda Walker action group committee to call a meeting at which the question of future remuneration would be discussed.
He is supported in his campaign by Paul Marland, the Conservative MP for Gloucestershire West.
Mr Doll-Steinberg and Mr Marland have urged that an independent remuneration committee composed of between six and 10 members of the Gooda Walker action group should be appointed. They argue that this committee should determine an appropriate level of remuneration.
'The composition and motivation of the committee and the committee's standing are matters of overwhelming importance to the group,' Mr Doll-Steinberg said yesterday.
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