FSCS recovers £300m for levy payers

Money

The Financial Services Compensation Scheme (FSCS) has recovered just under £300m over the past five years from failed financial services firms.

According to the regulatory body these sums reduced FSCS levies on the industry.

However, in 2019 brokers actually saw FSCS rise with a predicted increase of £16m,  prompting a warning from the British Insurance Brokers Association.

The FSCS stated that it strives to reduce the costs of compensation for its levy payers, and seeks to recover amounts

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: