Financial Services Compensation Scheme (FSCS)
Quizzical questions: 31 May 2019
Test your knowledge of the week's news with our topical quiz.
FSCS to pay out £6.9m to taxi drivers affected by Alpha collapse
Organisation to refund 9,000 commercial taxi drivers who were insured by Alpha via its broker MGA Capital Underwriting Agency.
Lamp’s proposed liquidation sparks debate on insurer stability and ratings
Members of the legal expenses market believe that brokers should look at more than just a firm’s rating when trying to find insurance, referencing location, stability and capital adequacy ratio.
Brokers warned over admin fees and commission
DAC Beachcroft said analysis of FCA studies found that firms do not have sufficient focus on customers.
Three insurance firms on FSCS insolvency list
List includes payment protection specialist British Insurance which was bought by Towergate in 2008, but stopped trading in 2011.
FSCS confirms final levy for 2019/20 at £532m
The amount is £16m more than the organisation forecast it would be back in January and relates partly to “continuing costs in some historic insurance failures”.
Qudos replacement policies reignite unrated debate
Some alternative cover for Qudos’ motor, motor add-on and pet insurance policyholders is being offered through two unrated insurers.
FCA proposes £537.7m fee budget for 2019/20
The figure is a 2% increase on last year’s with £29m to come from general insurance mediation.
FSCS names Caroline Rainbird as new CEO
She replaces Mark Neale who announced last year that he was to leave in May after nine years in the role.
FSCS further extends CRL's Alpha deadline
FSCS "hopeful" 30 April deadline could lead to a deal being agreed as CRL continues to look for replacement cover following unrated insurer Alpha's bankruptcy last year.
CRL responds to FSCS Alpha deadline extension
CEO Steve Mansour says the broker has been working with the FSCS for some months in order to help transfer policies affected by Alpha’s bankruptcy last year.
Quizzical questions: 12 April 2019
Test your knowledge of the week's news with our topical quiz.
Brokers and FSCS step in for Qudos customers following unrated insurer's collapse
The FSCS named Adrian Flux and Tobell Insurance Services as it detailed the transfer of 165,000 policies from the bust Danish provider.
CRL has deadline to replace Alpha policies extended
FSCS says the broker is "making progress" in finding replacement cover after unrated Danish insurer Alpha collapsed last year.
FSCS recovers £300m for levy payers
The money has been recovered from failed financial services firms and the watchdog claimed that these sums helped reduce FCSC fees.
FCA finalises no deal Brexit guidance
Regulator clarifies rules around Gibraltar-based firms.
Biba maintains warning on FSCS levy
FSCS planning for £516m budget.
Podcast: The top five stories of the week
Ida Axling and Emmanuel Kenning share their view on the news behind the top five headlines of the week.
FSCS to hit brokers with extra levy bill next month, warns Biba
Trade body also predicts 2019/20 levies will be higher.
Qudos Insurance liquidator writes to UK customers
Danish provider declared bankrupt on 20 December 2018.
Unrated Danish insurer Qudos declared bankrupt
FSCS vows to work with liquidator and Danish authorities.
Gibraltar-based Horizon Insurance declared in default by FSCS
Company closed to new business at the end of 2016 but 1,700 UK customers may still be affected.
FCA prepares for no deal Brexit
The watchdog has published a set of proposals to prepare for the possibility of leaving the EU without an implementation period.
Quizzical questions: 12 October 2018
Test your knowledge of the week's news with our topical quiz.