FSCS statement
Statement from Since East West Insurance Company (EWIC) entered administration, FSCS has been working closely with the joint administrators to fund valid claims made against EWIC insurance policies. Up until Tuesday 5 April 2022, we have paid just under £7m in claims costs.
Typically, if a policyholder makes a successful claim on an insurance policy, their insurer takes over their rights so that they can try and recover money from a person or business who they believe was at fault.
If FSCS funds a successful claim because the insurer has failed, the policyholder’s rights go to FSCS instead. This gives us the legal right to try and recover the compensation we have paid.
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FSCS