YOUR COMPLIANCE MATTERS – No Claims Discount (Bonus) – Reminder to send in your annual return in January 2022

YOUR COMPLIANCE MATTERS – No Claims Discount (Bonus) – Reminder to send in your annual return in January 2022 

Relevance:                   All firms selling Private Motor Insurance with protected NCB. 

Action required:         Submit your next Compliance Declaration to the CMA before 01.02.22 

You will remember that, from the 1 August 2016, the Competition & Markets Authority (CMA) Private Motor Insurance (PMI) Order came into force, in relation to No Claims Discount (NCD) protection. This Order affects all policies written as private car products (excluding motorcycle and classic car) where No Claims Discount (NCD) protection is offered (unless such protection is integral to the product). 

If you have not done so already, you need to submit your annual declaration by 01.02.21, along with NCD tables for the insurers that you arrange private car business with, where NCD protection applies (as mentioned, this does not apply to motorcycle and classic car). 

This can be completed online  Here is the link to the CMA’s online reporting form 

Please get in touch if you need any help. Otherwise, you need to ensure that you have submitted the declaration before the deadline.