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.”
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