FSCS compensation figures

The Financial Services Compensation Scheme (FSCS) paid out £175m in compensation last year according to the figures in its 2004/05 Annual Report. Of this, £113m was paid in compensation for claims relating to insolvent insurance firms such as Independent Insurance and Chester Street. In addition telephone enquiries to the FSCS rose by 75% (to 43,281) while written enquiries rose by 48% (to 34,897).