Following consultation, FSA has simplified FSCS limits for non-deposit business. From 1 January 2010, the new limits will be:
- 100% of all claims up to £50,000 for investments or home finance (so dispensing with the 90% band to make possible maximum payment £2,000 more than currently). This also reflects the current deposit limit;
- 90% of whole non-compulsory insurance claim, or claims relating to mediation of non-compulsory general and pure protection contracts, with no upper limit (removing the current 100% for the first £2,000); and
- keeping the 100% whole claim limit for compulsory insurance and mediation of it.