Zero GI insolvencies brings FSCS compensation down for 2022/23
The Financial Services Compensation Scheme has reported that for the year ending 31 March 2023, it paid £163m in compensation for general insurance providers, £23m less than the year before.
The FSCS has attributed this reduction to the fact that there were no new insurance firm failures in 2022/23.
The report said: “There was also a £13m decrease in compensation costs for Chester
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