The Financial Services Compensation Scheme (FSCS) has declared Leicester-based Abbot Insurance Brokers, trading as Abbot Insurance, in default.
The compensation body stated that it is satisfied that the broker is unable to pay claims for compensation made against it, adding that it will now step in to help consumers that have been affected.
In total six failed financial firms were declared in default in August 2018.
In July the FSCS declared Ipswich-based broker Ignition Select to be in
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