FSCS expected to cover "vast majority" of Eric customers' claims


The Financial Services Compensation Scheme (FSCS) has stated that it may be able to pay claims against unrated Icelandic firm European Risk Insurance Company (Eric).

The scheme said the "vast majority of UK customers" are expected to be covered.

Eric stopped accepting new business in February 2014 and is now in default.

According to the FSCS, more than 24,000 people in the UK “may have insurance with Eric”, and the provider sold “a variety of policies which qualify for FSCS protection”.


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