Alpha collapse: FSCS transfers 177,000 GAP policies
The regulator has worked with Premia Solutions to replace GAP policies following Alpha going into liquidation earlier this year.
The Financial Services Compensation Scheme (FSCS) will transfer 177,000 GAP policies, formerly with collapsed Danish insurer Alpha, from 12 August 2018.
The regulator stated that it has worked with the Danish Guarantee Fund and Premia Solutions to secure alternative insurance cover for eligible customers.
The organisation said the GAP products will be covered by a Lloyd’s of London Syndicate and explained that affected policy holders will receive a letter from Premia Solutions outlining the
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