OpenUnited Kingdom
Closed Insurance Estates Preliminary Market Engagement
Key facts
- Country
- United Kingdom
- Region
- UKI31
- Estimated value
- not stated
- Published
- Source
- UK Find a Tender
Description
FSCS is the United Kingdom’s statutory fund of last resort for customers of financial services firms and this market sounding is specific to general insurance, FSCS may pay compensation where it is satisfied that an eligible claimant has a protected indemnity claim against an authorised insurer who is in default. In the event of an insurer failure, primary responsibility for claims handling rests with the court appointed Insolvency Practitioner. Often the period required to resolve the failed insurer’s insurance liabilities extends beyond the conclusion of any insolvency proceedings, at which…
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