Protection on FSCS claims increases

Currently, claimants are covered for 100% of the first £30,000 and 90% of the next £20,000, an arrangement the regulator described as "confusing". Insurance claimants, including general, life and pure protection, will also receive 90% protection with no upper limit. Currently it is 100% of the first £2,000 and 90% of the remainder. "The changes will help consumers understand and have confidence in the protection provided by the FSCS," FSA managing director of retail markets Jon Pain says. [email protected] IFAonline