Claims management companies will be regulated by the Department for Constitutional Affairs and the Lord Chancellor, Lord Falconer, it was announced today in Parliament.
At the second reading of the Compensation Bill in the House of Commons, it was revealed that trade unions will be exempt from regulation as will legal expenses insurance providers who are already regulated by the FSA.
No announcement was made on whether a clause would be added to the Bill relating to mesothelioma claims, but Labour signalled its support for adding a provision to the legislation.
To find out more about what is happening in this critically important area, make sure you attend the Insurance Times Future of Personal Injury Claims Conference on 6 July.
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