The bill must be paid in addition to the usual annual FSCS levy. It comes as a result of the FSCS life and pensions sub-class seeing payouts over its limit, according to Biba.
Steve White, Biba CEO,
Zurich disappointed in new #discountrate. David Nichols, Ch Claims Officer: "The failure to change the discount rate to a balanced level will only serve to increase the cost and, therefore, affordability of certain types of insurance - especially for higher risk customers." pic.twitter.com/ac1CfBzfxX— Zurich Insurance UK (@ZurichInsUK) July 15, 2019
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