Claims against life and pensions intermediaries fell by a quarter last year according to the Financial Services Compensation Scheme (FSCS).
The regulator says it saw a 26% drop in claims against this category, receiving 3,427 during 2009/10 compared to 4,634 in 2008/09. Although the figures are not broken down further, the FSCS noted that this sub-class mainly comprises Mortgage Endowments, Pensions Review and Free Standing Additional Voluntary Contribution claims (FSAVCs). More than half (52%) of life and pensions intermediary claims resulted in an offer of compensation, with the average payment being £6,858. Overall, a total of 31,592 claims were received, an increase of 185% from 2008/09 while those completed double...
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