KPMG has been hit with a £15m lawsuit by insurance outsourcer Watchstone — formerly known as Quindell — over allegations it suffered losses because of the audit firm’s negligence.

Watchstone’s claim was filed in the Commercial Court on 18 November, according to court records. Full particulars of claim are expected to be filed before the end of the year, according to person familiar with the claim. KPMG declined to comment.