Regulation 11 Compensation in relation to insurer claims: general provisionsI1

England and Wales

In deciding the amount that reflects an insurer claimant’s loss, the Authority must—

(a)

treat stolen property as lost if is not recovered by or on behalf of the person who made the related claim against the insurer claimant or by the Authority before the first payment date, and

(b)

have regard to—

(i)

in the case of immoveable property, the reasonable cost of its repair or reinstatement, and

(ii)

in the case of moveable property and except in the circumstances specified in regulation 12, the cost of replacing it at current market value or, if it is cash, the cost of, or the Authority’s estimate of the cost of, reimbursement.

Annotations

Commencement

I1: Reg. 11 in force at 6.4.2017, see reg. 1(1)