What is the purpose of the compensation fund?

The compensation fund is established specifically to reimburse consumers for financial losses incurred due to the actions or insolvency of members within the bereavement sector. This is vital in ensuring consumer protection and maintaining trust in funeral services. When individuals or families face the difficult circumstance of arranging funeral services, they often make financial commitments. If something goes wrong—such as a funeral home failing to deliver services paid for—this fund provides a safety net, allowing consumers to recover their losses and ensuring that they are not left without recourse during a vulnerable time.

This focus on consumer protection highlights the industry's commitment to ethical practices and financial responsibility. It reinforces the idea that consumers have a right to expect fulfillment of service agreements and financial security when engaging with service providers in this sector.