FSCS broker levy increases to £13m for 2017/18


Insurers to pay £63m supplementary levy following the failures of Gable and Enterprise.

The Financial Services Compensation Scheme (FSCS) is planning to raise its levy for insurance brokers to £13m for 2017/18.

In its plan and budget for 2017/18, the FSCS noted that the levy for general insurance intermediation would increase from £8m last year.

According to the FSCS this is to cover an expected overall increase in payment protection insurance claims received during the year, if a cut-off date for submitting claims is announced by the Financial Conduct Authority.


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