Regulation
In England and Wales, as of 23 April 2007, an individual or a corporation may not, unless exempt or otherwise in receipt of a waiver, provide claims management services by way of business unless authorised by the Claims Management Services Regulator. It is a crime for an unauthorised person to provide or offer claims management services, or to pretend to be authorised. Offenders are punishable, on summary conviction, by a fine of up to level 5 on the standard scale or 51 weeks' imprisonment. If convicted on indictment in the Crown Court, offenders can be sentenced to an unlimited fine or two years' imprisonment. Where a corporate crime is committed, the offender can only be fined and not imprisoned. The claims regulator also covers the processing and evaluation of complaints against claims management companies.
Solicitors, barristers, advocates and some other lawyers are exempt, as are:
- Persons regulated by the Financial Services and Markets Act 2000;
- Charities and not for profit bodies;
- Motor Insurers' Bureau;
- Medical Protection Society, Medical Defence Union, and Medical and Dental Defence Union of Scotland; and
- Trade Unions.
Incidental referrals to lawyers are also exempt as are services in respect of counterclaims, or claims for contribution or indemnity.
Read more about this topic: Claims Management Company
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