However, Broker Network chairman calls the timing 'crass'
The Financial Services Compensation Scheme (FSCS) is to launch a £4m publicity campaign in the new year to boost consumers’ awareness of its activities.
Television, newspaper and online adverts will feature a cartoon character, known as Euan Mee, who will encourage consumers to find out more about FSCS protection.
The launch of the campaign is designed to coincide with changes to the maximum pay-outs from the scheme and is scheduled to run from January to March next year.
Insurance Times’s Fair Fees campaign is fighting to reverse the recent hike in the FSCS levy, which has increased eight-fold in the past year, largely to compensate consumers who were mis-sold payment protection cover.
But Broker Network executive chairman Grant Ellis attacked the timing of the campaign’s launch.
“The timing is crass – it is unbelievably insensitive at a time when the insurance broking community faces a huge increase in its fees.”