Taking client protection to the next level
Recent insolvencies of regulated firms holding client money in the UK has emphasised the need for greater protection for those clients should an authorised investment firm go out of business. Even though the Financial Services Compensation Scheme (FSCS) provides last resort protection for clients of UK authorised financial services firms, the FSCS can only guarantee up to £50,000 per client, and even then not all clients are eligible.
Protean Risk currently offer Excess of FSCS insurance, which allows UK authorised investment firms to provide additional protection above the £50,000 threshold from the FSCS. This has been very effective in protecting retail clients eligible under the FSCS. However, until now there has been no insurance available for those clients who are not eligible claimants, such as professional/sophisticated clients, businesses or partnerships.
Introducing Protean Client Money Insurance
Protean Risk have launched a completely new range of flexible insurance solutions, currently not available anywhere else that can not only give additional protection that goes beyond the FSCS threshold, but can also provide extended cover for clients who may not be eligible claimants under the FSCS. We also offer insurance that can protect the assets of professional/sophisticated or institutional clients, even if they invest with multiple firms.
Protection that can give you a competitive edge
Our Client Money Insurance products have the flexibility to offer protection on a per client basis and are available in the UK and other EU jurisdictions. Authorised investment firms can also use this as an effective marketing tool to encourage clients to hold larger sums in custody while also attracting a wider range of clients.
A team of dedicated specialists who can tailor the right insurance protection for you
For more information on the level of protection we can offer and client specific terms we can arrange, get in touch with one of our dedicated specialists below.
- Unique insurance policies designed for authorised investment firms to protect more clients, not just those who are retail clients
- Cover available regardless of determination by the FSCS
- Available in the UK and other EU jurisdictions
- Policies issued for the benefit of specific clients on a ringfenced basis
- An effective marketing tool with the added potential to attract high net worth and institutional clients
- Client asset protection, even if held under various authorised investment firms
- Bespoke protection and can be offered on a per client basis
What our clients say
Protean were highly recommended to us by a trusted party years ago. We have since been delighted by their proactive and "customer-first" attitude. We would recommend them anytime.
Julian Brincat featured on the first edition of threesixty's roundup Read more...
Protean Risk's response to Treasury Select Committee’s ‘Report and Finding on Crypto-Assets’ Read more...