There are very many large, multiple claims or potential claims arising from failed investment schemes, including hotels and student accommodation, and conveyancing fraud. We are advising a significant number of firms on coverage (including aggregation), block notifications, and related SRA investigations.
We have had another major success for a firm whose insurer collapsed, potentially leaving the firm uninsured without recourse to the Financial Services Compensation Scheme. The FSCS’s £1 million turnover cap on eligibility is not necessarily the impregnable barrier that it appears to be, although persistence (even to the point of pursuing an application for judicial review) may be required.
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