FSCS claims up 25%; £4m consumer ads lack impact

The organisation said it received 39,500 new claims from consumer, largely as a result of high profile failures such as Keydata. In its annual report and accounts for 2010/11, the FSCS said it paid out £535m in compensation for 2010/11, with £214m arising from the Keydata failure. Meanwhile, payment protection insurance (PPI) claims accounted for just over 20% of new claims, with the FSCS saying it expects to receive a continuing high volume of PPI claims in 2011/12. The FSCS also admitted its £4m public awareness campaign had not had the expected impact. "We shall, therefore, b...