FSCS keeps broker levy at zero for 2023/24 and projects same into 2024/25


The Financial Services Compensation Scheme has maintained plans to keep general insurance brokers’ contribution to zero this year, and forecast that this will remain the case in the 2024/25 financial year.

The FSCS revealed, in its latest Outlook, that the total levy is expected to remain at nil for the general insurance distribution class in 2024/25 as it is not anticipating any new firm failures. Payment Protection Insurance claims are continuing to decrease, according to the FSCS.

Related FSCS slashes broker 2023/24 levy to zero FSCS maintains broker levy at £5.3m and forecasts no increase for 2023/24 FSCS adds Martyn Beauchamp as interim CEO

However, the scheme anticipates

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