FSCS Publishes Annual Report

FSCS pays £204m in compensation during 2009/10 and prepares for faster payout

In its Annual Report and Accounts 2009/10, published today (22 July), the Financial Services Compensation Scheme (FSCS) reports that it has paid more than £204m in compensation to over 21,000 claimants.

Two thirds of the compensation paid during the year was for Payment Protection Insurance (PPI) and investment claims. PPI claims have increased significantly during the year rising to more than 2,400 and the FSCS expects the numbers of claims in this area to continue to grow in 2010/11.

Download the full Annual Report and Accounts 2009/10 and the accompanying Press Release.

By Thomas Chen
22 July 2010