Brokers have been warned to check ..

Brokers have been warned to check the domicile of their general insurance product providers, or risk losing money. Providers with an address overseas are not subject to the demands of the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS). The warning came from www.britishinsurance.com. The FSCS has the power to compensate consumers in the event of the failure of any firm that is authorised; however, that guarantee does not apply to customers of firms domiciled