The Financial Services Compensation Scheme (FSCS) has confirmed that brokers will pay a levy of £18m for the year 2017/18.
This is a £5m increase from the indicative levy of £13m that was reported in January this year, and a rise compared to the £8m brokers paid in 2016/17.
According to the FSCS, the rise was a result of the Financial Conduct Authority’s announcement of a two-year cut-off for personal protection insurance (PPI) claims, which is expected to lead to an increase in the number of
- Broker Network buys Knighthood Corporate Assurance Services
- Trade credit insurer pay-outs at highest level since 2009
- GDPR: What do brokers need to know?
- Meet the techies: Tobias Taupitz
- Podcast: The top five stories of the week
- Aston Lark buys Ingram Hawkins and Nock
- Carole Nash and Axa remain committed to Republic of Ireland bike market