The Financial Services Compensation Scheme has announced that it is planning to help customers of Your Health Plus Insurance Services in Berkshire who lost money after the firm went into administration.
The Financial Services Compensation Scheme (FSCS) may be able to pay compensation to those policyholders who paid premiums to the firm for the Safety Net insurance policy if Your Health Plus had not set up this policy.
For claims against general insurance intermediaries, FSCS can pay compensation of 100% of the first GBP2,000 plus 90% of the balance. Customers may be eligible for protection if they buy general insurance policies from a regulated firm after that date.
Jonathan Clark, director of claims for FSCS, said: We would advise anyone who has bought Safety Net insurance through this firm to check that they have insurance cover in place. If their insurance was bought on or after January 14, 2005, and they think they may have lost money, they should contact us. We may be able to help. We aim to deal with claims within six months of a firm being declared in default and we process most deposit claims within four weeks of receipt.