Dear PPS Members
As I’m sure you are aware, PPS is a not for profit Trust run by your fellow counsellors, psychologists and psychotherapists. The PPS Trustees are elected from the PPS membership roll and make decisions on behalf of our members.
LAMP Insurance Company announced on 20 May 2019 that they are seeking the appointment of a Liquidator. LAMP Insurance Company provides an insurance policy to the Psychologists Protection Society Trust to protect members against claims from clients. The announcement from their regulator, the Gibraltar Financial Services Commission (https://www.fsc.gi/news/gfsc-statement-on-lamp-insurance-company-limited-lamp-316) makes it clear that the policy is still valid, but that at this time the company cannot pay claims until such time as the Liquidator is appointed and the assets of the company established. However we believe the policy is protected by the FSCS (Financial Services Compensation Scheme) and the PPS Trustees should be able to seek a recovery of any claims from this body if LAMP fail to pay them.
The PPS Trust Board have reacted swiftly to the news about LAMP, by seeking a reinsurance policy to cover any failure of Lamp or the FSCS to pay claims. This will ensure our members are fully protected.
Chairperson – Psychologists Protection Society Trust
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© 2018 Psychologists Protection Society – Run by Therapists, For Therapists.
Psychologists Protection Society and PPS are the trading names for the Psychologists Protection Society Trust (PPST). All plans and insurance policies are arranged and administered by Psychologists Protection Services Ltd (PPS Ltd). For the purposes of introducing insurance, the Psychologists Protection Society Trust (PPST) is an Introducer Appointed Representative of SWIM Ltd, and for the purposes of administering insurance Psychologists Protection Services Ltd (PPS Ltd) are an Appointed Representative of SWIM Ltd. SWIM Ltd is authorised and regulated by the Financial Conduct Authority.
Psychologists Protection Services Ltd is registered in Scotland No. SC379274. Registered Office: PPS, Lime Tree House, North Castle Street, Alloa, FK10 1EX