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COMP 4.3 Exceptions: Circumstances where a person coming within COMP 4.2.2R may receive compensation

Long term insurance

COMP 4.3.2R

A person other than one which comes within any of categories (7), (9), (12) or 6(15) of COMP 4.2.2R is eligible to claim compensation in respect of a long term insurance contract.

6

Relevant general insurance contracts

COMP 4.3.3R
  1. (1)

    A person falling within categories (1)-(4) of COMP 4.2.2 R is eligible to claim compensation in respect of a relevant general insurance contract if, at the date the contract commenced he was a small business.

  2. (2)

    Where the contract has been renewed, the last renewal date shall be taken as the commencement date.

COMP 4.3.4R

A partnership which falls3 within category 14, or category 17, or both 3of COMP 4.2.2R is eligible to claim compensation in respect of a relevant general insurance contract entered into before commencement.

3

Liability subject to compulsory insurance

COMP 4.3.6R

A person who comes within COMP 4.2.2R is eligible to claim compensation in respect of a liability subject to compulsory insurance if the claim is:2

  1. (1)

    a claim under a protected contract of insurance; or2

  2. (2)

    a claim in connection with protected non-investment insurance mediation.2

14Protected investment business and protected home finance mediation4

COMP 4.3.7G

There are no exceptions to COMP 4.2.2R for claims made in connection with protected investment business or protected home finance mediation4.1

4

Eligibility to claim in specified circumstances

COMP 4.3.8R

6The FSCS may treat a person who comes within category (7) or (12) of COMP 4.2.2 R as eligible to claim compensation where:

  1. (1)

    this is desirable to achieve the efficient performance of any of its functions, including without limitation, to facilitate a transfer of business or any part thereof, to secure the issue of policies by another firm to eligible claimants in substitution for their existing policies, to achieve the efficient payment of compensation, to secure under COMP 3.3.2C R the payment of benefits under a long term insurance contract; and

  2. (2)

    treating these persons as eligible to claim compensation would, in the opinion of the FSCS, be beneficial to the generality of eligible claimants who will be affected by the action in (1).