Newport Insurance Services Limited (formerly R J Costain Insurance Services Ltd)
What this means for you
Because Newport Insurance Services Limited (formerly R J Costain Insurance Services Ltd) has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.
Background
Newport Insurance Services Limited, formerly trading as R J Costain Insurance Services Ltd (FRN 172645), has been declared in default by the Financial Services Compensation Scheme. The firm's regulatory product classification data is not available, limiting specification of the insurance products it offered. Former customers may be entitled to compensation of up to 90% of their claims with no upper limit under FSCS insurance protection rules, following the firm's default declaration on 10 July 2006.
Products this firm wrote
How to claim
- Check you were a customer of this firm during the period it was regulated.
- Gather your policy / advice / contract paperwork — start with anything you have in writing.
- Identify your loss and the date it crystallised.
- Apply via the FSCS online claim portal at claims.fscs.org.uk.
- The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.