Brokers slapped with £10m increase to FSCS levy


General insurance brokers will pay £18m for the coming year to the Financial Services Compensation Scheme, up from the £13m originally planned for in January. Brokers paid £8m to the FSCS for the previous year of 2016/2017. Because of a Financial Conduct Authority deadline for filing PPI claims this year, the FSCS said it expects a surge in claims. “We expect PPI claims to continue to be a significant workstream for the FSCS in 2017/2018,” the scheme said in its annual budget. “Following