Compensation Act 2006, Paragraph 11 is up to date with all changes known to be in force on or before 05 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
11(1)Regulations may require, or permit the Regulator to require, an authorised person to take out a policy of professional indemnity insurance in respect of his actions in the course of providing or purporting to provide regulated claims management services.E+W
(2)Regulations under sub-paragraph (1) may, in particular—
(a)make provision about the level or nature of insurance cover to be provided by the policy;
(b)include provision about failure to comply (which may, in particular, provide for compliance to be treated as a condition of authorisations or enable the Regulator [F1to require the payment of a penalty by an authorised person or] to impose conditions on, suspend or cancel authorisations).
Textual Amendments
F1Words in Sch. para. 11(2)(b) inserted (21.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 139(5), 148(3); S.I. 2014/772, art. 2
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