Financial Services Compensation Scheme (FSCS)

The Financial Services Compensation Scheme (FSCS) is the UK's statutory fund of last resort for customers of authorised financial services firms. UK residents who are purchasing their car insurance policy, either online or offline need to aware of the existence of the FSCS, in case of any future disputes between policyholder and insurer.

The FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it. FSCS is an independent body, set up under the Financial Services and Markets Act 2000 (FSMA). Their service is free to consumers. When you visit the web site of the FSCS you will notice it is divided into four sections:

• Consumer
• Industry
• Press Office
• Contact Us

Most of the relevant information applicable to motor policy holders is to be found in the consumers section. Download a copy of their Consumer Guide, How The FSCS can Help, which contains a print version of their flowchart and provides more information about their role and how they may be able to help with claims for compensation. Other sections describe in detail 'How to Claim', and also details of past insurance claims and intermediaries whom the FSCS have previously declared in default.

Your Claim
Claims are dealt with by their Claims Division, which is divided into different groups: Insurance and Deposit Taking, Investments and Pensions, and Mortgage Endowments. The work of the claims teams is supported by the work of support teams.

Contact The FSCS
Customer Services Telephone: 020 7892 7300
Fax: 020 7892 7301
Email: enquiries@fscs.org.uk
Post: Financial Services Compensation Scheme, 7th floor, Lloyds Chambers, Portsoken Street, London E1 8BN.

Top of Page