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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Regulation
FSCS lining up first broker levy in five years
The Financial Services Compensation Scheme has revealed brokers are being lined up to pay a £4.5m levy in 2027/28, the first payment in five years.
FCA kicked off 2026/27 with no insurance S166s
The Financial Conduct Authority did not open a skilled person review into any firms in the insurance sector in the first quarter of 2026/27, the first time this has happened for over a year.
Budget 2026: What the tax changes mean for UK insurance brokers
In the wake of Chancellor John Healey’s first Budget this week Tom Golding, partner in the corporate tax team at PKF Littlejohn, unpicks the potential ramifications for brokers, MGAs and the wider UK insurance sector.
Q&A: Michael Sicsic, managing director of Sicsic Advisory
Michael Sicsic, the founder and MD of Sicsic Advisory, tackles whether the Financial Conduct Authority is as active in the market as ever, what the regulator is pushing for on premium finance, and poses the key question brokers need to be ready to answer.
Lords Committee demands FCA goes further and faster on home, travel insurance
The cross-party House of Lords Financial Services Regulation Committee has urged the Financial Conduct Authority to go “further and faster in implementing and enforcing its rules on home and travel insurance” as it warned the Consumer Duty has not yet led to improvements.
FSCS opens for claims from customers of failed broker Anthony Jones
The Financial Services Compensation Scheme has opened to claims from customers who paid for insurance through collapsed broker Anthony Jones (U.K.) but find themselves without the relevant cover and unable to recover the premiums by other means.
Which? demands ban on brokers charging high motor APRs
Which? has named and shamed motor insurance brokers charging high interest rates on monthly policies and called for a ban on the practice.
No ‘particular targets’ for insurance regulation simplification, says FCA
Consumer Duty will be a building block for any future work on the simplification of insurance regulations that affect brokers, according to David Geale, executive director of consumers, payments and competition at the Financial Conduct Authority.