Increase in FSCS levy to be greatest for insurers
Insurers will see the largest increase in the Financial Services Compensation Scheme levy when compared to other financial sectors, with the industry set to pay an extra £32m according to the FSCS’s 2016/17 plan.
The report, which is open to consultation until 22 February, flagged an increase to £94m for general insurers, up from £62m in the 2015/16 plan.
The report added that compensation costs for the sector
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