FSCS confirms final levy for 2019/20 at £532m
The amount is £16m more than the organisation forecast it would be back in January and relates partly to “continuing costs in some historic insurance failures”.
The Financial Services Compensation Scheme (FSCS) has announced its levy for 2019/20.
FSCS will levy firms £532m this year, £16m more than it forecast in its Plan and Budget 2019/20 in January.
Picking out figures for general insurance distribution, the figure is actually lower than forecast at £12m, down from the £13m predicted in the plan and budget.
According to the body, this includes management expenses of £74.6m.
In 2018/19 the FSCS levy was £468m for the nine-month levy year (from
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