Explanatory note

These Regulations set out the information requirements placed on insurers under section 11 of the Civil Liability Act 2018 (c. 29) and make an amendment to the regulation of insurance-linked securities under the Risk Transformation Regulations 2017 (S.I. 2017/1212).

Part 2 of these Regulations sets out the scope of the requirement in section 11 of the Civil Liability Act 2018 and prescribes the information that motor insurers are required to provide to the Financial Conduct Authority (FCA) under that Act. It also sets out the timing for provision of this information to the FCA.

In addition, Part 3 of these Regulations makes an amendment under section 284A of the Financial Services and Markets Act 2000 (c. 8) to ensure that the prohibitions set out in regulations 157 and 158 of the Risk Transformation Regulations 2017 do not apply to qualified investors.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.