Compensation Bill [HL]

In relation to Amendment No. 53, I was describing to the noble Lord, Lord Hunt, the implications of the change that he proposes—for example, those regulated by the FSA to be exempted under Clause 4(1). It was already our intention to exempt them under Clause 4(2), but I accept that it might be better to exempt all of those already regulated in one place. I should clarify that where legal expenses insurers offer claims management services, they would be regulated by the FSA only in respect of their insurance activities and would need to be authorised to provide claims management services. But I see the purpose behind the noble Lord’s amendment and will consider that further in advance of the next stage. I will come back to the noble Lord and the Committee with my views on what we might do to accept the way in which the noble Lord has sought to do this.