Victims of domestic terrorist attacks can already be compensated under the Criminal Injuries Compensation Scheme (CICS).
The Financial Services Compensation Scheme (FSCS) protects savers when authorised financial services firms fail.
Last week, Ulster Bank announced details of a compensation scheme for customers who were affected.
The compensation scheme will apply to six attacks since 2002, including the bombings in Bali that year.
Existing policyholders remain concerned about how the compensation scheme, and the ombudsman's rulings, will affect the insurer.
His comments came amid calls from abuse victim Chris Daly for a new national forum and compensation scheme.
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The row is about changes to the Civil Service Compensation Scheme - the redundancy package for civil servants.
They had been excluded from the government compensation scheme finally agreed in 2010.
But those conflicts are not an artifact of any specific compensation scheme.
The compensation scheme was designed at the request of the coalition government, and started to make payouts in June 2012.
But the Financial Services Compensation Scheme (FSCS) declared it was in default after some borrowers did not repay their loans.
Watson Wyatt, an employee-benefits consultancy, says that American multinationals increasingly are applying a common compensation scheme to all their operations.
Last month, the Ulster Bank announced details of a compensation scheme for customers who were affected by the major computer failure.
Victim Support argues that the government should "implement funding solutions which place the Criminal Injuries Compensation Scheme on a firm financial footing".
The government has yet to come up with a satisfactory compensation scheme.
The UK compensation arrangements are run by the Financial Services Compensation Scheme.
Labour has accused the government of "stacking" a parliamentary committee to ensure that controversial changes to the Criminal Injuries Compensation Scheme are passed.
He has urged ministers to follow the route taken in Ireland, where a compensation scheme for abuse victims was put into operation.
BBC: Historic abuse law 'inflexible', says Scottish minister
The Financial Services Compensation Scheme (FSCS) said members would receive a letter or cheque to retrieve their money within the next seven days.
In July, Ulster Bank executives promised that a compensation scheme for customers was in the pipeline and that has now been put in place.
The Bank of Cyprus (UK) is separately capitalised from its parent company and its customers are included within the UK Financial Services Compensation Scheme.
But he acknowledged that some along the preferred route would see their property values fall and announced that officials were working on a compensation scheme.
Some think that the answer lies in a federal compensation scheme.
If someone feels they have been mis-sold, but is not at first included within the compensation scheme they must first complain to the bank in writing.
But Cabinet Office Minister Francis Maude said he was determined to ensure "additional protection for low-paid workers" as part of reforms to the Civil Service Compensation Scheme.
"You need to be aware that your funds are not covered by the Financial Services Compensation Scheme and also there is the potential of bad debts, " he says.
And the beauty of it is simple math embedded in the assets-under-management compensation scheme: The more money under management, the more money they make on a straight percentage.
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"This compensation scheme has existed on the statute books since 1886 with its operation having stood the test of time for the last 125 years, " the ABI said.
Compensation will be paid by the Financial Services Compensation Scheme.
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