Related topic: FSCS

The limit for qualifying temporary high balances will also rise to £1.4m.

The FSCS is predicting fewer claims in the life distribution & investment intermediation (LDII) class.

Other proposals include an increase in the limit applicable to certain temporary high balance claims.

Martyn has been interim CEO of the FSCS since October 2023.

She succeeds Marshall Bailey, who is stepping down after two terms as FSCS chair.