COMP 10.2 Limits on compensation payable
The limits on the maximum compensation sums payable by the FSCS for protected claims are set out in COMP 10.2.3 R.
The limits apply to the aggregate amount of claims in respect of each category of protected claim that an eligible claimant has against the relevant person (or, where applicable, a successor)18. Consequently, a claimant who has, for example, a claim against a relevant person (or, where applicable, a successor)18 in connection with protected investment business of £40,000126, and a further such claim of £20,0006 , will only receive the £50,000 limit.12
6126666666612Table Limits
This table belongs to COMP 10.2.1R
Type of claim |
Level of cover |
Maximum payment |
| 14 | 66 | 6817171717 |
| 1212 | ||
| 1212 | ||
| 1212 | 2 | |
| 12 | £50,00012 12 |
|
Protected home finance mediation51 5 |
12 | £50,00012 |
Protected non-investment insurance distribution21 3 |
(1) where the claim is in respect of a liability subject to compulsory insurance: 100% of claim3 |
Unlimited3 |
(2) where the claim is in respect of:18 (a) a relevant omission; and18 (b) a professional indemnity insurance contract19, or would be in respect of a professional indemnity insurance contract19, if the insurance contract had been effected:18 |
Unlimited18 |
|
(a) in respect of a relevant omission;18 (b) in respect of a relevant general insurance contract or would be in respect of a relevant general insurance contract if the insurance contract had been effected; and18 (c) arises from the death or incapacity of the policyholder owing to injury, sickness or infirmity:18 |
Unlimited18 |
|
(4) where the claim is in respect of: (a) a relevant omission; and (b) a pure protection contract, or would be in respect of a pure protection contract if the insurance contract had been effected: |
Unlimited18 |
|
(5) 18In all other cases: 90% of claim123 12 |
Unlimited3 |
|
100% of claim |
£50,000 |
18COMP 12.4.4 R includes18 further limits relating to18 ICD claims against certain incoming EEA firms. These reflect the18 Investor Compensation Directive18 under which compensation may be payable by the incoming EEA firm's Home State compensation scheme.
777777Claims in cases where there is a successor
18No claimant shall be eligible to make a claim under the compensation scheme in respect of both the relevant person and a successor in relation to the same loss.
[deleted]2
[deleted]2