Insurance Age

Proposed changes to compensation limits

Proposed changes to compensation limits for failed insurance, investment and home finance advice businesses will go forward, the Financial Services Authority has announced. Once they have gone into effect on 1 January 2010, compensation for investments, home finance advice and deposits will be capped at £50,000 and all claims for non-compulsory insurance will be paid at 90%, with no upper limit. However, there will be no change to compulsory insurance.

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