COMP 1.3 Claimants
The FSCS8 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 7QU7, or by telephone or fax (Tel: 0800 678 1100 or Fax: 020 7741 4100)7.
Areas of particular interest to claimants (see COMP 1.1.3G).
This Table belongs to COMP 1.1.3 G4.
4Q1 |
What do I need to do in order to receive compensation? |
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A1 |
In order to receive compensation: |
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(-1) |
If your claim is for a deposit or under a contract of insurance, see the PRA’s Depositor Protection or Policyholder Protection rules;8 |
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(1) |
you must be an eligible claimant; |
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(2) |
you must have a protected claim; |
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(3) |
you must be claiming against a relevant person 6or a successor6; |
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(4) |
where the claim is against a relevant person, 6the relevant person must be default6; or where the claim is against a successor, the successor must be in default6. |
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In addition, if the FSCS requires you to do so, you must assign your legal rights in the claim to the FSCS. |
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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). |
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It is possible, in certain circumstances, for someone else to make a claim on your behalf. |
COMP 3.2.2 R2 |
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Q2 |
How much compensation will I be offered? |
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A21 |
This depends on whether your protected claim is: |
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(1) |
[deleted] 6 5 |
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(2) |
[deleted] 6 |
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(3) |
a claim in connection with protected investment business; or1 |
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a claim in connection with protected home finance mediation;4 or13 4 |
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(5)3 |
a claim in connection with protected non-investment insurance distribution9.3 |
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Different limits apply to different types of claim. |
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Q3 |
How will the FSCS calculate the compensation that is offered to me? |
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A3 |
Again, this will depend on whether your protected claim is: 4 |
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(1) |
[deleted] 6 55 |
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(2) |
[deleted] 6 53 |
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(3) |
a claim in connection with protected investment business; or3 |
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a claim in connection with protected home finance mediation; or5413 4 |
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(5)3 |
a claim in connection with protected non-investment insurance distribution9.3 |
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Certain types of protected investment business claim require the FSCS to use a particular method of calculation. |
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Q4 |
[deleted] 6 |
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2 |