The Financial Conduct Authority (FCA) has been conducting a review of the operation of the Financial Services Compensation Scheme (FSCS), seeking views as to how to reduce the number and value of claims falling to the FSCS and assessing how the scheme is funded, including the impact of professional indemnity insurance (PII).
United Kingdom, Insolvency & Restructuring, Litigation, Clyde & Co LLP, Professional liability insurance, Financial Conduct Authority (UK)
High Court holds that an Insolvency Exclusion applies in respect of a claim under the Third Parties (Rights Against Insurers) Act 1930 (“1930 Act”) and awards summary judgment accordingly but declines to provide much-needed guidance on insurers’ liability in the case of claims partially settled by the Financial Services Compensation Scheme (“FSCS”).
United Kingdom, Insolvency & Restructuring, Insurance, Litigation, Clyde & Co LLP, Financial Services Compensation Scheme, Financial Conduct Authority (UK), High Court of Justice (England & Wales)