Related provisions for ICOBS 8.2.6
1 - 2 of 2 items.
(1) This section applies to a motor vehicle liability insurer.(2) The rules in this section relating to the appointment of claims representatives apply:22(a) in relation to claims by injured parties resulting from accidents occurring in an EEA State other than the injured party'sEEA State of residence which are caused by the use of vehicles insured through an establishment in, and normally based in, an EEA State other than the injured party'sEEA State of residence; and2(b) in
A firm must ensure that each claims representative:(1) is responsible for handling and settling a claim by an injured party;(2) is resident or established in the EEA State where it is appointed;(3) collects all information necessary in connection with the settlement of a claim and takes the measures necessary to negotiate its settlement;(4) possesses sufficient powers to represent the firm in relation to an injured party and to meet an injured party's claim in full; and(5) is
(1) If the firm, or its claims representative, does not make an offer as required by this section, the firm must pay simple interest on the amount of compensation offered by it or awarded by the court to the injured party, unless interest is awarded by any tribunal.(2) The interest calculation period begins when the offer should have been made and ends when the compensation is paid to the injured party, or his authorised representative.(3) The interest rate is the Bank of England's