Collapsed Alpha replacement cover deal hits problems
FSCS flagged that “last minute issues” are preventing the deal being finalised as it admits it is unsure what the final outcome will be.
The deal to replace cover for customers of failed Danish provider Alpha with latent defect/structural damage policies has been thrown into doubt following news of last minute issues.
The Financial Services Compensation Scheme (FSCS), which has been monitoring the situation since Alpha collapsed, stated that it is not sure at this stage if the replacement agreement will be able to proceed.
A deal to provide replacement cover was announced on 19 July.
However, the regulator published a
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