On October 4, the OIC (formerly Orion) and L&O scheme administrators announced a 7% increase in the payment percentage for agreed claims. This increase brings the total payment percentage to 65%; further increases are anticipated in 2018 and 2019. The administrators had previously confirmed in February that less than 30% of the Qualifying ILU Policyholders had opted out, meaning that the scheme will continue to settle claims and make payments.

For additional information on the OIC schemes, please see the scheme website or KCIC's knowledge center.

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