Insurance Post

FSCS default declarations allows consumers to claim up to £48,000

Consumers can claim compensation of up to £48,000 if they have lost money as a result of their dealings with any one of 33 firms that the Financial Services Compensation Scheme (FSCS) has recently declared in default. FSCS is the UK’s statutory compensation scheme for customers of regulated financial services firms. It provides a free service to consumers.

Declaring a firm in default is the final part of a process in which a firm regulated by the Financial Services Authority (such as a financial adviser) has been found by FSCS to be unable, or likely to

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