FSCS steps in following Balva liquidation


The Financial Services Compensation Scheme (FSCS) has announced that it will protect "most of the policies" that liquidated Latvian professional indemnity (PI) provider Balva sold in the UK to individuals and small businesses.

It also pledged to protect and UK policyholder who purchased compulsory employers' liability cover.

Balva, which was operating in the UK under European Directive "passporting" arrangements, lost its operating licenses and went bust in July last year.

FSCS chief

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