If you have an account with a UK branch of an insurance services firm based in the European Economic Area (EEA) that becomes insolvent we may also be able to help.
An insurance services firm established in another EEA state will be a member of that state's compensation scheme, which will protect customers of that insurance services firm in that EEA country, and those dealing with branches of that insurance services firm in other EEA countries. Where the insurance services firm's home state scheme provides a lower limit of compensation than the FSCS (i.e. 90% of the claim with no upper limit for claims against firms declared in default after 1 January 2010. Compulsory insurance is 100%), the insurance services firm may choose to join FSCS to 'top up' the limit of protection. The firms that have topped up into the UK Scheme are listed below with their Firm Reference Numbers and the month and year they received approval to top up from the FSCS or predecessor scheme.
In the event of a failure of one of these firms, there would be a two step process as the home state scheme would have lead responsibility for claims, and would pay the first part of any compensation. The FSCS would, wherever possible, try to assist claimants in their dealings with the home state scheme (for example, by putting them in contact with the home state scheme, or helping them understand the process that the home state scheme will follow). The FSCS would then deal with any 'top up' claims.