The Financial Services Compensation Scheme (FSCS) and the Association of British Insurers (ABI) have paid or sent acceptance documents to claimants' solicitors on 67% of outstanding Chester Street Insurance claims.
They have also paid or sent acceptance documents on 74% of claims agreed since 1 March against insolvent policyholders.
The payments come to more than £3m.
The figures were revealed yesterday at a meeting between the FSCS and Scottish Secretary of State Helen Liddell.
It was announced that the FSCS, the ABI, Iron Trades Management Services and the Chester Street scheme administrators had agreed a service standard to ensure payments are made within 25 days of damages being agreed.
However, they pointed out that the timetable would be dependent on claimant¹s solicitors returning documents promptly.
"We look forward to those who represent claimants committing to similar standards," they said in a joint statement.
