The Financial Services Compensation Scheme (FSCS) has declared broker Ignition Selection, which is currently in administration, to be in default.
Ignition Select, which was a car insurance broker based in Ipswich, collapsed in July 2017 with the loss of 70 jobs.
At the time it appointed Begbies Trainor as administrator.
A spokesperson for the FCSC explained that at this stage the organisation was unsure how many people had been affected by the collapse or how much it was likely to have to pay
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