COMP 4

Eligible claimants

COMP 4.1

Application and Purpose

Application

COMP 4.1.1

See Notes

handbook-rule
This chapter applies to the FSCS.

COMP 4.1.2

See Notes

handbook-guidance
It is also relevant to those who may wish to bring a claim for compensation.

Purpose

COMP 4.1.3

See Notes

handbook-guidance
The purpose of this chapter is to set out the types of person who are able to claim compensation or benefit from the protection the FSCS is able to provide. A claimant needs to be an eligible claimant to satisfy COMP 3.2.1R(1).

COMP 4.2

Who is eligible to benefit from the protection provided by the FSCS?

COMP 4.2.1

See Notes

handbook-rule
Unless COMP 4.2.3 R applies, an eligible claimant is any person who at any material time:
(1) did not come within COMP 4.2.2 R; or
(2) did come within COMP 4.2.2 R, but satisfied the relevant exception in COMP 4.3.

COMP 4.2.2

See Notes

handbook-rule

Table COMP 4.2.2R Persons not eligible to claim unless COMP 4.3 applies (see COMP 4.2.1R)

This table belongs to COMP 4.2.1R

COMP 4.2.3

See Notes

handbook-rule
A person who is a small business is an eligible claimant in respect of a relevant general insurance contract entered into before commencement only if the person is a partnership.

COMP 4.3

Exceptions: Circumstances where a person coming within COMP 4.2.2R may receive compensation

Deposits

COMP 4.3.1

See Notes

handbook-rule
A person is eligible to claim compensation in respect of a protected depositif, at the date on which the relevant person is determined to be in default:
(1) he came within category (14) of COMP 4.2.2R; or
(2) he came within any of categories (1)-(3) of COMP 4.2.2R, and was not a large company, large mutual association, or a credit institution.

Long term insurance

COMP 4.3.2

See Notes

handbook-rule
A person other than one which comes within any of categories (7)-(12) and (15) of COMP 4.2.2R is eligible to claim compensation in respect of a long term insurance contract.

Relevant general insurance contracts

COMP 4.3.3

See Notes

handbook-rule
(1) A person falling within categories (1)-(4) of COMP 4.2.2 R is eligible to claim compensation in respect of a relevant general insurance contract if, at the date the contract commenced he was a small business.
(2) Where the contract has been renewed, the last renewal date shall be taken as the commencement date.

COMP 4.3.4

See Notes

handbook-rule
A person coming within category 14, of COMP 4.2.2R is eligible to claim compensation in respect of a relevant general insurance contract entered into before commencement.

COMP 4.3.5

See Notes

handbook-rule
A person who comes within category (16) of COMP 4.2.2R (a 'category 16 person') is eligible to claim compensation if:
(1) the person insured would have been an eligible claimant at the time that his rights against the insurer were transferred to and vested in the category 16 person; or
(2) the liability of the person insured in respect of the category 16 person was a liability under a contract of employer's liability insurance which would have been a liability subject to compulsory insurance had the contract been entered into after 1 January 1972 or (for contracts in Northern Ireland) 29 December 1975; or
(3) the extent of the liability of the person insured in respect of the category 16 person had been agreed in writing by the insurer, or determined by a court or arbitrator, before the date on which the insurer is determined to be in default.

Liability subject to compulsory insurance

COMP 4.3.6

See Notes

handbook-rule
A person who comes within COMP 4.2.2R is eligible to claim compensation in respect of a liability subject to compulsory insurance if the claim is:

Protected investment business and protected mortgage business

COMP 4.3.7

See Notes

handbook-guidance
There are no exceptions to COMP 4.2.2R for claims made in connection with protected investment business or protected mortgage business .