FSCS to pay out £6.9m to taxi drivers affected by Alpha collapse
Organisation to refund 9,000 commercial taxi drivers who were insured by Alpha via its broker MGA Capital Underwriting Agency.
The Financial Services Compensation Scheme (FSCS) has revealed it is in the process of paying out a total of £6.9m to Alpha customers following the unrated Danish insurer’s collapse.
The payments are being issued to 9,000 commercial taxi policyholders who were insured by Alpha via UK brokers through its managing general agent, Capital Underwriting Agency.
The FSCS has previously transferred 177,000 GAP policies formerly with Alpha, after working with the Danish Guarantee Fund and Premia
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