FSCS quadruples levy on general insurance intermediaries
Insurance intermediaries will be required to stump up £2m for the prospective levy from the Financial Services Compensation Scheme in 2007/8, four times as much as the previous year. However, general insurers will have nothing to pay for the second year running, according to the body’s new business plan.
Loretta Mingella, chief executive of the FSCS, said: “We no forecast that no levy will be required during 2007/8 from general insurers, as we have sufficient funds to deal with anticipated claimsOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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