From 14 January 2005 the protection of the FSCS was extended to include customers of general insurance intermediaries.
FSCS will safeguard policyholders if an authorised firm is unable, or likely to be unable, to pay claims against it, for example if it has been placed in provisional liquidation or administration. This is described as being in default. For the Scheme to be able to pay compensation to consumers, we are required under our rules to declare a firm in default.
Intermediaries involved in advising on and arranging general insurance contracts could include:
The Financial Conduct Authority website includes a searchable database of all firms authorised and regulated by the FCA and the Prudential Regulation Authority (PRA).