FSCS to pay out £6.9m to taxi drivers affected by Alpha collapse

taxi

The Financial Services Compensation Scheme (FSCS) has revealed it is in the process of paying out a total of £6.9m to Alpha customers following the unrated Danish insurer’s collapse.

The payments are being issued to 9,000 commercial taxi policyholders who were insured by Alpha via UK brokers through its managing general agent, Capital Underwriting Agency.

The FSCS has previously transferred 177,000 GAP policies formerly with Alpha, after working with the Danish Guarantee Fund and Premia

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