Protection provider Core Cover Ltd (FRN: 774068) has been declared as failed by the Financial Services Compensation Scheme.

The firm had claims of over £1.6m against it from unsecured creditors and insufficient funds to pay them, according to filings made by the liquidator to Companies House.

The provider was trading as Lifecover.com, Secured-Loan.online, Health Core PMI and acceptedmoney.co.uk

It was also formerly known as Study Safe Ltd, Bright Cover and Healthy Extras, among other names.

The move opens the doors to ex-clients to claim compensation from the FSCS.

The FSCS said the firm has one claim against it, which has been upheld, relating to life insurance.

Core Cover was based in Doncaster, South Yorkshire, and ceased to be authorised by the Financial Conduct Authority in October 2022.

According to Companies House, the firm was dissolved on 29 June 2023, and entered liquidation owing over £20,000 to 10 employees.

The FSCS declared 12 firms in default in August and September this year.

The dozen firms declared in default included eight related to unsuitable pension advice, including three linked to the British Steel Pension Scheme (BSPS).