Indemnity insurance rules waivers policy

Approved by the Financial Protection Committee 27 June 2012.

Waivers might be appropriate in the following circumstances:

  • (i)

    to remedy serious injustice resulting from either an anomaly created by, or the strict operation of, the Indemnity Insurance Rules;

  • (ii)

    where the absence of a waiver would involve a breach of the Indemnity Insurance Rules which would be no more than technical in character;

  • (iii)

    in any other case that is wholly exceptional in character.

 

The decision maker will only take account of hardship if it is serious and caused by exceptional circumstances beyond the control of the appellant.

It is the view of the Financial Protection Committee that hardship alone is not a sufficient ground on which to grant a waiver.

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