Q&As about Balva AAS Insurance

Balva was based in Latvia so does the FSCS cover policyholders with the firm?

Which Balva policies may qualify for FSCS protection?

Are solicitors covered by FSCS?

Why does FSCS pay compensation at 90% of the value of the claim?

Who qualifies for FSCS protection?

Does the FSCS cover all Balva policies?

What happens if I have a new claim?

I had a claim being processed by Balva. Will I have to start again and apply to FSCS?

I run a business and have a policy with Balva. Is my business covered?

I had a claim lodged with Balva and need the money urgently. Can the FSCS do anything to help me?

Does FSCS have the money to pay claims?

How long will it take to process my claim?

Who should I contact if I have a question about my policy?

I submitted a claim to Balva and urgently need to settle it. Can you tell me what the status of my claim is?

Do I have to pay to claim compensation from FSCS?

Do I need to use a third party to claim for compensation?

Jargon Buster

  • EEA

    European Economic Area.
  • Eligible

    qualifying for compensation under Scheme rules.
  • FCA

    The Financial Conduct Authority is the UK's regulator for the financial services industry. 

  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.