FSCS levies to drop in 2005/6
General insurers' prospective levy from the Financial Services Compensation Scheme will drop by £40m...
General insurers' prospective levy from the Financial Services Compensation Scheme will drop by £40m in 2005/6, according to its new business plan, published at the end of January. Insurance intermediaries will be required to contribute £1.7m to the fund.
Under the new proposals, insurers will fare better after their contribution was cut from £135m to a predicted £95m for the 2005/6 year of account.
The total financial services levy will drop £29.8m to £202.9m.
Recently appointed FSCS chief
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