Claims management companies (CMCs) will need to give potential customers a summary document including examples of fees charged and an overview of services provided before any contract is agreed, under new proposals from the Financial Conduct Authority (FCA).
The watchdog will be taking over the regulation of CMCs on 1 April 2019 including in Scotland where they are currently unregulated.
Firms now have until April to let the FCA know of their intention to register for temporary permission and
- Opinion: Who would believe it? When unrated is “good”
- Gallagher buys Portmore Insurance Brokers
- Ardonagh sells Direct Group’s claims business for £36m
- Applied Net 2018: Google takes minority stake in Applied
- Ingenie founder Richard King unveils new telematics insurer backed by Gary Lineker
- Tasker set to make acquisitions
- InsurTech Futures: Four major insurers join ex-Aviva director Fraser Edmond's platform