Bee Diseases Insurance Ltd.

Treasury written question – answered on 7th November 2001.

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Photo of Christopher Chope Christopher Chope Shadow Spokesperson (Treasury)

To ask the Chancellor of the Exchequer if Bee Diseases Insurance Ltd. will be exempted from levy under the Policyholders Protection Act 1975; and if he will make a statement.

Photo of Ruth Kelly Ruth Kelly Economic Secretary, HM Treasury

Bee Diseases Insurance Ltd. would be required to pay a levy were one to be raised under the Policyholders Protection Act 1975. However, on 1 December 2001 the Financial Services Compensation Scheme (FSCS) will supersede the Policyholders Protection Scheme (established under the Policyholders Protection Act 1975). The Financial Services Authority has consulted on the rules for the FSCS and will be issuing the rules shortly.

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