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.
Contact The FSCS
Customer Services Telephone: If you telephone The FSCS, they will aim to resolve your query immediately. Their Freephone number is: 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday 08.30 to 17.30 excluding public holidays. Calls may be monitored or recorded for training purposes.
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:
• 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.
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.
Post: Please be advised that calling FSCS is the quickest way to have your query resolved. If your enquiry relates to a new claim please call their Freephone number listed above. Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St. Botolph Street, London EC3A 7QU.
Website Address (copy and paste into your browser bar): www.fscs.org.uk/what-we-cover.