Knowledge Centre

Claims Management - FCA Claims Management Application

The FCA is the regulator for claims management firms. If you provide claims management services in England, Wales or Scotland you must be regulated by the FCA and hold a claims management license in order to provide such services.

The FCA will expect to see the following information as part of your FCA claims management license application:

  • full explanation of your business, its background, what it will do, including the sectors it wishes to operate in

  • objectives (e.g. business opportunity, market share)

  • details of your governance (risk and compliance) framework and key personnel

  • experience and employment background of your firm's management and an explanation of how they are competent to perform the regulated activities you want to carry on

  • analysis of key conduct risks

  • details of any outsourcing plans or other key operational matters

  • long-term strategy and financial projections for 3 years

  • details of where customers will be sourced from with details of any lead generators

  • any unregulated activities your business will perform

  • details of websites, communications and financial promotions.

The following are claims management company sectors:

  • Personal injury

  • Financial services and financial products i.e. PPI

  • Housing disrepair

  • Specified benefits

  • Criminal injury

  • Employment related i.e. unfair dismissal claims

The following are a list of claims management regulated activities:

  • Seeking out claims or potential claims

  • Referrals of claims or potential claims

  • Identification of claims or potential claims

  • Advice in relation to claims

  • Investigation in relation to claims

  • Representation in relation to claims