Welcome to Claim Compliance...

Regulation for General Insurance began in January 2005. The introduction of this regulation lead to a great deal of confusion, particularly around the secondary insurance market and for those organisations supplying support services.

The key question for many is "do I need to be regulated"

In the case of Claims Management the answer is... it depends. And it depends upon whether or not you are working for the insurer or the customer or both. If you are working for the insurer then the answer is probably not. If however you are working for the customer then the answer is probably yes; and the same yes answer applies if you are working for both.

Why is this?

The simple answer is because you are caught by the wide definition of 'assisting in the administration and performance of an insurance contract' and this activity is regulated.

If I need to be regulated, what are my options?

• You can be fully authorised by the FSA, with the associated cost, administrative burden and of course the legal liability.

• You can be an Appointed Representative of an organisation such as ITC and for a one off annual fee, you can free yourself from the majority of administration (no 6 monthly reports) and crucially the legal liability that is associated with direct authorisation. This is taken on by ITC; you will be an exempt firm and will no longer fall under the jurisdiction of the FSA.

To become an Appointed Representative of ITC simply complete the straight forward application by clicking apply to join or call us on 0845 177 22 66 for further information.