Financial Services Compensation Scheme (FSCS)
Industry Expert - Martin Greetham, Lead Associate - Insurance, FSCS
Time - refreshments at 12:00 for 12:30 start (1:30 finish)
The Financial Services Compensation Scheme (FSCS) is the UK's compensation fund of last resort for customers of authorised financial services firms. They may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. This is usually because it has stopped trading or has been declared in default. The FSCS are independent of the government and the financial industry and were set up under the Financial Services and Markets Act 2000, becoming operational on 1 December 2001 (although they still cover claims before this date). They do not charge individual customers for using their service. The FSCS covers business conducted by firms authorised by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), the independent watchdogs set up by government to regulate financial services in the UK and protect the rights of customers. European firms (authorised by their home state regulator) that operate in the UK may also be covered.
Who Should Attend? Anyone who works in general insurance. How the FSCS operates is relevant to underwriters, claims handlers and brokers alike.
Learning Objectives
By the end of this event, delegates will be able to describe:
-The FSCS aims, objectives and structure
-What the FSCS protects and how it is funded
-The limitations of the scheme
-The links between the FSCS, the FCA, the PRA and the FOS
Speaker Biography
Martin joined the FSCS in 2008 as a Lead Associate in the Insurance Department and has led on the recent failure of 3 European insurers. Previously he spent 3 years working at Generali in their UK non-life claims department and prior that at QBE Insurance in Leeds working on the Iron Trades Scheme of Arrangements.
Venue
The Bradford Chamber is situated in Devere House, near the bottom of Vicar Lane in Little Germany where it adjoins Hall Ings. It is approximately 5-10 minutes walk from the both the Bradford Interchange and Foster Square stations. Parking is available on-street (payable at the parking meters) plus the car parks at the top of Little Germany and the nearby Leisure Exchange.
Book Now - to confirm your place, please contact David Codling at david.codling@riig.co.uk or 07772 483302
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CII Accredited
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.