18th January 2006
The Financial Services Compensation Scheme (FSCS) has declared Monarch Insurance Services Limited in default, which means that FSCS is satisfied the firm is unable to pay claims against it. A declaration of default opens the way for consumers who have lost money as a result of dealings with this firm to make a claim for compensation to FSCS.
What you should do
The first thing you should do is contact the insurer named on any policy documents you may have, to confirm that insurance cover is in place.
If you believe that you do not have valid insurance cover for which premiums have been paid to Monarch Insurance Services Limited, you should contact our Customer Services Team.
The role of FSCS
The Financial Services Compensation Scheme (FSCS) is the UK's statutory fund of last resort for customers of financial services firms and may be able to help consumers if an authorised firm is unable to pay claims against it. The Scheme was set up under the terms of the Financial Services and Markets Act 2000 and protects deposits, insurance, investments and mortgage business.
We are an independent body and provide a free service to consumers.