{
  "url": "https://openlegislation.uk/insurance-companies-regulations-1994/schedule-3/paragraph-11",
  "json_url": "https://openlegislation.uk/insurance-companies-regulations-1994/schedule-3/paragraph-11.json",
  "legislation": "uksi/1994/1516",
  "legislation_title": "The Insurance Companies Regulations 1994",
  "legislation_url": "https://openlegislation.uk/insurance-companies-regulations-1994",
  "path": "schedule/3/paragraph/11",
  "kind": "paragraph",
  "number": "11",
  "heading": null,
  "text": "(1) For the purposes of paragraph 10 above, the amount of claims paid, in relation to an insurance company and a financial year, is the amount that is recorded in the company’s books as at the end of the financial year—\n(a) in relation to general business classes 1 to 17, as paid by it (whether or not payment has been effected in that year) in full or partial settlement of the claims described in sub-paragraph (2) below and the expenses described in sub-paragraph (3) below, or,\n(b) in relation to general business class 18, as being the costs borne by the insurance company (whether or not borne in that year) in respect of the assistance given,\nless (in either case) any recoverable amounts within the meaning of sub-paragraph (4) below.\n(2) The claims mentioned in sub-paragraph (1) above are claims under contracts of insurance (and under contracts of reinsurance accepted by the company) including claims relating to business accounted for over a longer period than a financial year.\n(3) The expenses mentioned in sub-paragraph (1) above are expenses (such as, for example, legal, medical, surveying or engineering costs) which are incurred by the company, whether through the employment of its own staff or otherwise, and are directly attributable to the settlement of individual claims, whether or not the individual claims in question are those mentioned in sub-paragraph (1) above.\n(4) Recoverable amounts for the purposes of sub-paragraph (1) above are amounts recoverable by the company in respect of the claims mentioned in that sub-paragraph or other claims, including amounts recoverable by way of salvage, amounts recoverable from third parties and amounts recoverable from other insurers but excluding amounts recoverable in respect of reinsurance ceded by the company.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "added",
      "affecting": "uksi/1996/942",
      "affecting_title": "The Insurance Companies (Amendment) Regulations 1996"
    },
    {
      "type": "substituted",
      "affecting": "uksi/1996/942",
      "affecting_title": "The Insurance Companies (Amendment) Regulations 1996"
    },
    {
      "type": "modified by S.I. 1983/224 Sch. 1A (as inserted)",
      "affecting": "uksi/1997/686",
      "affecting_title": "The Insurance (Lloyd's) Regulations 1997"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/1516/schedule/3/paragraph/11",
    "retrieved_at": "2026-10-29T13:31:36.830993+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}