The FSCS said the main reason for the reduction was that compensation for the LDII class in 2023-24 was £130mn, £51mn lower than forecast in November 2023. This was mainly due to reduced ...

The FSCS said the main reason for the reduction was that compensation for the LDII class in 2023-24 was £130mn, £51mn lower than forecast in November 2023. This was mainly due to reduced ...

The FSCS said the fall was partly due to its successful recovery of £54m from the estates of failed firms during 2023/24. FSCS warns industry levy set to rise to £415m for 2024/25 Compensation ...

The Financial Services Compensation Scheme (FSCS), a financial safety net funded by the industry, has projected it will pay out £363 million in compensation during the 2024-25 fiscal year.

The FSCS originally forecast in November that it would keep general insurance distribution contributions at zero having not imposed a levy in 2023/24. It detailed that the pot in which brokers sit had ...

Surplus funds have helped to offset the 2024-25 levy on firms, the Financial Services Compensation Scheme said. The Financial Services Compensation Scheme has said it expects to pay £363 million ...

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The FSCS said it expected to pay £363m in compensation this year, which is significantly down from the estimate of £457m compensation it made in its November outlook. The organisation said this ...

The Financial Services Compensation Scheme (FSCS) has revealed its annual levy for the 2024/25 financial year will be £265m. This marks a significant drop from the £415m forecast in November ...

The International Underwriting Association has expressed approval for a recent decision to halt proposed alterations in the Financial Services Compensation Scheme (FSCS). The Prudential Regulation ...