The Financial Services Compensation Scheme has declared that Arthur Temlett trading as Abacus Insurance Consultants is ‘in default’ after assessing that a claim for an insurance policy which does not exist was eligible for compensation.

Back in February of this year, the FSCS first asked customers who thought they had a claim against Arther Temlett to get in touch via its online claims service. It said it has been working with both Police Scotland and the Financial Conduct Authority during the investigation.

The FSCS also said it was investigating claims from customers in relation to an investment scheme and that this work was at an advanced stage.

Arthur Temlett operates in the Dumfries area and was first authorised as a sole trader on 29th April 1988. In January, the FCA placed restrictions on Arthur Temlett following allegations that insurance premiums were not being passed on to insurers.