FSCS Soon to Wind Up Norton Insurance Services Limited Administration

Steven Bobson, Europe & Americas Editor
March 22, 2012 /

The Financial Services Compensation Scheme (FSCS) is nearing the finalization of Norton Insurance Services’s administration.

Norton Insurance was put into administration on 7 February 2012. The firm was an insurance broker whose main focus was providing Payment Protection Insurance (PPI).

“FSCS is close to finalising its investigations into how it may be able to help consumers that may have lost money through their dealings with the firm. We will publish a further update with more information shortly,” the agency said.

FSCS protection for insurance broking is 90% of any eligible claim with no upper limit.

More than 4.5m people have been protected by FSCS since 2001 when it was set up. It has paid out more than £326bn in compensation in this time.

 

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