The financial climate - your questions answered
Does the current crisis affect your ability to pay general insurance claims?
- How do I know my money is safe with The Co-operative Bank p.l.c.?
- Will The Co-operative Bank p.l.c. encounter problems in a recession?
- Is what happened to Northern Rock or HBOS likely to happen to you?
- Will what's happening affect my pension or investment with The Co-operative?
- Does the current crisis affect your ability to pay general insurance claims?
- What is the Financial Services Compensation Scheme?
- Is my money covered under the Financial Services Compensation Scheme?
We typically pay claims from the premiums we receive in any given month so there is no real risk to our ability to pay claims on an ongoing basis. In the event of a major catastrophe where the cost of claims may exceed premiums received, we have a substantial portfolio of government bonds, which are very liquid and would enable us to meet our obligations. So we do not envisage a material risk to our ability to pay claims.
