For clients that have more than the Financial Services Compensation Scheme (FSCS) threshold deposited with a Financial Institution, having an additional layer of protection can provide them with peace of mind that their assets are protected.


Excess Compensation Scheme Insurance

Protecting your customers against the unknown

Excess Compensation Scheme insurance can provide you with an edge to help you stand out from your competitors by giving your clients peace of mind that their funds have an additional layer of protection.

Clients are becoming increasingly aware of the risks involved with investing their money and trusting financial institutions. This insurance provides insurance protection to clients that deposited funds over and above the amount protected by compensation schemes.

What we bring to your business

  • An exclusive Excess Compensation Scheme policy wording underwritten by Lloyd’s of London

  • Lockton’s global presence provides us with an enhanced regulatory oversight and the ability to service your account where you wish to grow

  • We appreciate that all insureds have their own risk management strategy, including how much capital they wish to reserve to offset any perils they foresee. By purchasing this insurance insureds can offset how much reserved funds they wish to hold

  • Our knowledge spans across the entirety of the financial services sector ranging from broker dealers to wealth managers

  • Independent benchmarking of levels of cover, premiums and retentions

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Understanding key person insurance

Excess Compensation Scheme Insurance FAQs

The Excess Compensation Scheme Insurance is designed to sit in excess of the FSCS scheme and is UK-centric. The FSCS scheme protects clients’ funds that are deposited with UK financial institutions up to a maximum of £85,000* The protection granted by this scheme means that client funds deposited with UK financial institutions shall be guaranteed up to £85,000 should that institution be unable to restore the client their funds. Amounts above £85,000 are not protected under the scheme.

The triggers of this particular policy align with the FSCS in that the insured must go insolvent in order for one of the policy triggers to be active, but there must also be concurrently the event of misconduct.

In the unlikely event that the company goes insolvent, there is an event of misconduct, and the loss is in excess of £85,000 then there is a sub limited coverage per customer.

In the event of a claim, the policy will pay directly to any eligible claimants who have sustained a financial loss covered under this policy up to the aggregate limit of indemnity.

Our fintech team

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Joanne Alamango

CEO - Malta

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Maria Farrugia


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Sonia Micallef ACII

Account Executive - Malta

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We bring creative thinking and an entrepreneurial spirit to the insurance business and are uniquely positioned to help you succeed.

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