Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

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

7
COMP 4.3.1R

[deleted]

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
COMP 4.3.5R

[deleted]

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 in connection with protected non-investment insurance mediation.10

2

1448Protected home finance mediation8

COMP 4.3.7G

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

84

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 limitation10; to achieve the efficient payment of compensation10; 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).

Protected investment business

COMP 4.3.9R

8A person is eligible to claim compensation for claims made in connection with protected investment business if, at the date at which the relevant person 9(or, where applicable, a successor) 9is deemed to be in default, he:

  1. (1)

    came within category (14) of COMP 4.2.2 R and he does not exceed the limits for a body corporate which qualifies as a small company under section 247 of the Companies Act 1985 or section 382 of the Companies Act 2006 as applicable; or

  2. (2)

    came within category (19) of COMP 4.2.2 R.