FSCS may be able to pay you compensation if your insurance firm fails and can’t meet your claim. We may also be able to compensate you if your insurance broker/financial adviser fails and negligently advised or arranged your policy.
The insurance firm must have been regulated by the Prudential Regulation Authority (or was an EEA-authorised firm passporting into the UK). The Financial Conduct Authority must have regulated the insurance broker/financial adviser.
We can’t cover goods in transit, marine, aviation or credit insurance, or contracts of reinsurance for insurance firms or brokers/financial advisers.
Read about our rules for small businesses, ltd companies and charities regarding insurance claims.
If you bought your insurance policy from an insurance firm that’s failed, the kind of insurance you have and when the firm failed will affect how much compensation you could claim.
If you bought your insurance policy through an insurance broker or financial adviser that’s failed, the kind of insurance you have will affect how much compensation you could claim. See some examples of situations where you may be able to claim compensation if an insurance broker/financial adviser helped you buy your policy.