Financial Services Compensation Scheme (FSCS)
CRL ‘making progress’ in placing Alpha policies as FSCS extends deadline
The Financial Services Compensation Scheme has given CRL Management an extra two weeks to find an alternative insurer for its customers that were insured by collapsed Alpha Insurance.
Gable CEO Dewsall withheld 'critical' information in administration of Hogarth Underwriting
Exclusive: Gable CEO William Dewsall ignored “numerous requests” from administrators of his underwriting vehicle Hogarth Underwriting.
This week: ‘Snow drama
Despite the buildup - amber warnings, train winter timetables, and inevitable delays getting to work - insurers will be grateful of today’s mere smattering of snow.
FSCS working with Danish Guarantee Fund to compensate customers of bankrupt Qudos
Qudos, the unrated Danish insurance company that was placed in liquidation last month, has been declared bankrupt.
Horizon Insurance declared in default
Gibraltar-based Horizon Insurance has been declared in default by the Financial Services Compensation Scheme.
FSCS mulls raising levies on brokers using unrated
Exclusive: Brokers that continue to use unrated capacity, despite the collapse of insurers like Alpha and Gable, could pay higher levies to the Financial Services Compensation Scheme next year.
FSCS issues warning over insurer records
Exclusive: Insurers that have complicated distribution models are failing to maintain accurate records of policyholders, the CEO of the Financial Services Compensation Scheme has warned.
This Week in Post: Boing! It’s the executive magic roundabout
The last few months have seen some major executive changes across the UK’s largest insurance companies.
FSCS CEO to step down
Mark Neale CEO of the Financial Services Compensation Scheme, will step down from his role.
Markerstudy picks up 10,700 policies from collapsed Alpha
The Financial Services Compensation Scheme has signed off on a deal that will see 10,700 customers of failed Danish insurer Alpha have their policies moved to Markerstudy.
Customers in line for compensation as UK broker fails
Customers of a failed Leicester broker could be in line for compensation from the UK’s guarantee scheme.
This week in Post: One every minute
For those of us back in the office while the holiday season continues it might seem like time is moving slowly but the Association of British Insurers revealed this week that for every minute we count down until silly season is over and the out of office…
Insurance businesses among FSCS list of in default firms
The Financial Services Compensation Scheme has declared nine firms, including three insurance businesses, in default, possibly opening the door for consumers to be compensated for any losses incurred.
This week in Post: Washouts and windfalls
When you head off to an outdoor festival following a heatwave, you cross your fingers and hope the sun sticks around. Unfortunately it seems like the recent tropical spate has done a runner and I spent last weekend trying not to roll down a hill while up…
FSCS arranges alternative cover for Alpha policyholders
UK policyholders with failed Danish insurer Alpha have been provided alternative cover via the guarantee scheme.
FSCS to pay out for claims against failed insurance and marketing intermediary
The Financial Services Compensation Scheme is satisfied that a former insurance and marketing intermediary is in default, meaning that customers will be able to apply to claim compensation.
Analysis: Has the industry learned its lesson after the collapse of a third unrated insurer in two years?
After three months of solvent run-off, Danish insurer Alpha finally fell over last month. Its collapse sent shockwaves through the market and prompted black cab drivers to besiege the offices of their London broker.
Brokers urged to contact FSCS over Alpha collapse
Brokers and managing agents for Alpha Insurance are being urged to contact the UK guarantee fund.
UK policyholders in limbo following Alpha insolvency
Exclusive: UK policyholders for Alpha Insurance have been left in limbo following the company being declared bankrupt.
Gable had 60,000 UK policyholders when it collapsed
More than 60,000 UK policyholders had business with Gable at the time of its collapse, and the UK guarantee scheme has to date paid almost £27m in compensation.
Career File: Marshall Bailey
Bailey named as chair of the Financial Services Compensation Scheme
FCA names Bailey incoming FSCS chair
The Financial Conduct Authority and the Prudential Regulation Authority have named Marshall Bailey as chair of the Financial Services Compensation Scheme with effect from 1 April 2018.
This week: Technology, treasury and trade credit
I'm not sure who was more excited about technology in our house this week, my son discovered that virtual pets in the form of Tamagotchi are making a comeback in the UK this year while I learnt a bar has opened where robots make you cocktails.
GI insurers to face 175% FSCS levy hike
Insurers will face a £56m Financial Services Compensation Scheme levy hike in 2018/19.