COMP 5.7 211Protected non-investment insurance mediation
Protected non-investment insurance mediation is an insurance mediation activity where the investment concerned is a relevant general insurance contract or a pure protection contract but3 which is not a long-term care insurance contract or a 3reinsurance contract, provided that the conditions4 in COMP 5.7.2 R are4 satisfied.12
344COMP 5.7.1 R only applies if the conditions in (1) and (2) are satisfied:3
1- (1)
the protected non-investment insurance mediation was carried on from:3
3 - (2)
the claimant making the claim (or where COMP 3.2.4 R applies, the customer on behalf of whom a firm makes a claim) dealt initially, with a view to entering into a relevant general insurance contract or a pure protection contract but not a long-term care insurance contract or a reinsurance contract, with an intermediary that was :4
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4The FSCS will not cover a claim against an intermediary 5or a successor of an intermediary 5that meets the criteria of either COMP 5.7.2 R (2)(a) or COMP 5.7.2 R (2)(b) where the claimant was introduced to that intermediary by an intermediary that does not meet the criteria of either COMP 5.7.2 R (2)(a) or COMP 5.7.2 R (2)(b).
4The FSCS will not cover a claim in respect of an intermediary that is not a relevant person, for example a retailer selling extended warranties that are connected contracts. However, COMP 5.7.2 R has the effect that a claim in respect of a relevant person further up the chain carrying on protected non-investment insurance mediation in accordance with COMP 5.7.2 R (1)(a) may be covered by the FSCS if the claimant dealt initially with a UK intermediary that is not a relevant person.