FSCS £21m levy increase on brokers is ‘kick in the teeth’
The Financial Services Compensation Scheme is to raise the insurance intermediary sub-class levy by a further £21m in the first quarter of 2013 owing to an increase in payment protection insurance compensation.
The FSCS forecasted it would require £57m for 2012/2013 but, in a report published today, it stated it would need a further £21m.
A statement read: “The number of new claims has increased at a rate
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