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 £70,00020, and a further such claim of £20,0006 , will only receive the £85,00020 limit.
612126666666661212Table Limits
This table belongs to COMP 10.2.1R
Type of claim |
Level of cover |
Maximum payment |
| 1814 | 66 | 6817171717 |
| 18 | 1212 | |
| 1212 | ||
| 18 | 1212 | 2 |
Protected investment business (except where the designated investment is a long-term care insurance contract that is a pure protection contract)20 |
12 | £85,00020 1212 |
20Protected investment business where the designated investment is a long-term care insurance contract that is a pure protection contract |
100% of claim |
Unlimited |
Protected home finance mediation5 51 |
12 | £85,00020 12 |
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 |
£85,00020 |
COMP 12.4.4R includes further limits relating to certain claims against pre-IP completion day incoming EEA firms24, where the act or omission giving rise to the claim arose before IP completion day2322. These reflect the Investor Compensation Directive, which will continue to apply to EEA State compensation schemes after IP completion day23, under which compensation may be payable by the pre-IP completion day incoming EEA firm’s EEA State compensation scheme24.
1818227718777718Claims 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 arising from the same act or omission by the relevant person.25
[deleted]2
[deleted]2
Claims arising under COMP 3.2.4 R4
Claims in cases where a principal and its appointed representative are both in default
25No claimant shall be eligible to make a claim under the compensation scheme in respect of both a principal and its appointed representative arising from the same act or omission by the appointed representative.