As of 1 January 2019 the Danish Guarantee Fund, the country’s equivalent of the Financial Services Compensation Scheme (FSCS), will only pay out to policyholders in Denmark in the event of a local insurer failure following a change in the nation’s law.
The FSCS confirmed to Insurance Age that there would be no negative net impact on UK consumers.
A spokesperson said: “Any UK policyholder that before the rule change would have been covered by us will continue to be covered by us.”
The news has
- Aviva grows mid-market appetite
- MRIB buys Independents
- Ex-Enterprise non-exec chairman Nick Cruz sues Gibraltar regulator for libel
- Unauthorised broker targets customers on Instagram
- Acturis set to seek new minority PE investor
- Saffron buys Farmer Insurance Brokers
- Biba warns of 'uncharted waters' as Theresa May's Brexit deal is rejected