Brokers were given a welcome surprise last month in the form of a reduction in the Financial Services Compensation Scheme (FSCS) levy for 2014/2015.
The government body reduced the cost for insurance intermediaries to £38m, down from the indicative levy, forecast in January of this year, of £62m. The total levy was reduced from an indicative figure of £313m to £276m.
Drop in PPI claims
Mark Neale, chief executive at the FSCS, said the reduction was due to a predicted downward trend of payment pr
- Premium Credit explains taking system offline
- Gallagher and Ardonagh in legal dispute
- Broker named on FSCS insolvency list
- MMC confirms up to 3,750 jobs in danger from JLT takeover
- MMC boss Dan Glaser lifts the lid on the 11 day JLT deal
- Ex broker jailed for £140,000 fraud
- Brokers see opportunity in MMC’s JLT takeover