The FSCS provides information to claimants and potential claimants about the way the FSCS works and the procedures that need to be followed when making a claim. The FSCS can be contacted at Financial Services Compensation Scheme, 10th Floor, Beaufort House, 15 St Botolph Street, London EC3A 7QU, or by telephone or fax (Tel: 0800 678 1100 or Fax: 020 7741 4100).
COMP 1.3 Claimants
You are viewing COMP 1.3 Claimants as of . COMP 1.3 Claimants was last updated on 29/07/2022.
COMP 1.3 Claimants
Areas of particular interest to claimants (see COMP 1.1.3G).
29/07/2022G
This Table belongs to COMP 1.1.3 G.
Q1 | What do I need to do in order to receive compensation? | ||
A1 | In order to receive compensation: | ||
(-1) | If your claim is for a deposit or under a contract of insurance, see the PRA’s Depositor Protection or Policyholder Protection rules; | ||
(1) | you must be an eligible claimant; | ||
(2) | you must have a protected claim; | ||
(3) | you must be claiming against a relevant person or a successor; | ||
(4) | where the claim is against a relevant person, the relevant person must be default; or where the claim is against a successor, the successor must be in default. | ||
In addition, if the FSCS requires you to do so, you must assign your legal rights in the claim to the FSCS. | |||
And you must bring your claim to the FSCS within a set time (normally within six years of the date on which your claim against the relevant person occurred). | |||
It is possible, in certain circumstances, for someone else to make a claim on your behalf. | COMP 3.2.2 R | ||
Q2 | How much compensation will I be offered? | ||
A2 | This depends on whether your protected claim is: | ||
(1) | [deleted] | ||
(2) | [deleted] | ||
(3) | a claim in connection with protected investment business; or | ||
(4) | a claim in connection with protected home finance mediation; or | ||
(5) | a claim in connection with protected non-investment insurance distribution; or | ||
(6) | a claim in connection with protected debt management business; or | ||
(7) | a claim in connection with protected funeral plan business. | ||
Different limits apply to different types of claim. | |||
Q3 | How will the FSCS calculate the compensation that is offered to me? | ||
A3 | Again, this will depend on whether your protected claim is: | ||
(1) | [deleted] | ||
(2) | [deleted] | ||
(3) | a claim in connection with protected investment business; or | ||
(4) | a claim in connection with protected home finance mediation; or | ||
(5) | a claim in connection with protected non-investment insurance distribution; or | ||
(6) | a claim in connection with protected debt management business; or | ||
(7) | a claim in connection with protected funeral plan business. | ||
Certain types of protected investment business claim require the FSCS to use a particular method of calculation. | |||
Q4 | [deleted] | ||