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News - Deregulation of insurance sales
In 2009 HM Treasury deregulated insurance sales for the removals, storage and self storage sectors. Operators are able to extend insurance under an “open cover” contract to their customers without the need to be regulated.

Trade associations in the sectors have codes of practice to follow if members adopt the 'open cover' approach. Members of these trade associations need to sign-up to the Financial Ombudsman Service if using the 'open cover' approach.

If you are unsure of your options please contact us to discuss your individual circumstances.

We can help firms implement the 'open cover' approach compliantly by assisting with customer facing documents, setting up a complaints procedure and advising on the correct handling of insurance premium tax.

Tailored advice for your circumstance:

  Members of BAR click here

Members of the Guild click here

 Members of SSA UK click here

Clients who are not members of a trade association click here
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