The Financial Services Compensation Scheme (FSCS) has confirmed that a deal securing replacement cover for Alpha Insurance’s latent defect policyholders has been agreed.
The organisation stated that a new, solvent insurer had taken over the policies, with all parties involved intending to provide a final sign-off on Wednesday 24 July.
The scheme stated: “FSCS will continue to provide updates on the closing stages of this process over the coming days.”
Insurance Age has previously reported
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