Your Health Insurance PLC

14th August 2009

The Financial Services Compensation Scheme (FSCS) declared Your Health Plus Insurance Services Limited (Your Health Plus) in default on 12 June 2007. This enabled customers of the firm who had paid premiums for the Safety Net insurance policy arranged through the firm to make a claim for compensation to the FSCS for a return of those premiums.


Some claims against Your Health Plus also related to the Health Fund, the amount that was paid to the firm which could be used to pay for healthcare. The FSCS was not satisfied that this part of the product was protected. The product in question had an unusual and complex structure, including the way in which the lump sum paid by Your Health Plus customers was held by the firm.

The FSCS has reviewed this issue and considered the status of these funds with the FSA and with the benefit of further expert legal advice the FSCS has concluded that such claims do fall within its protection.

The FSCS has already started to pay compensation to customers who have submitted applications for compensation in respect of the Health Fund.

If you were a customer of Your Health Plus and believe that you are owed money from the Health Fund, we may now be able to pay you compensation. You should contact our Customer Services Team who will explain what you need to do next. If you have already submitted an Application Form to us in respect of your claim against Your Health Plus, there is no need for you to take any further action at this time. We will consider the Health Fund element of your claim as soon as possible, and will contact you if we need any more information from you.

The role of the FSCS

The 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 (called being "in default"). The FSCS 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.