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GI compensation payments £66m for 2006/7

The Financial Services Compensation Scheme paid almost £150m in compensation during 2006/07, with £66m coming from general insurers.

FSCS completed more than 31,200 claims and spent just under £27.2m on management expenses, compared to a forecast for the year of completing 28,150 claims within a budget of £29.37m.

Figures released

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Diary of an Insurer: Sedgwick’s Hugh Kennaway

From policing London's streets to handling complex global energy claims and championing the international growth of the loss adjusting profession, Hugh Kennaway, past president of the Chartered Institute of Loss Adjusters, plus managing director and global head of downstream energy at Sedgwick, has a nonstop week.

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