Context
As part of its Regulatory Round Up communication for August 2021 the FCA has included an item reminding certain firms of their Employer’s Liability Register Compliance Return obligation.
All general insurers and Lloyd’s managing agents that are managing syndicates with permission to carry out general insurance contracts in the UK must notify the FCA if they have any actual or potential liability for UK commercial lines employers’ liability claims. If they have such liability, they are required to produce an employers’ liability register (ELR).
Key points to note
- Due to the Covid-19 pandemic last year the FCA granted a waiver for firms submitting their director’s certificate and auditors report.
- The waiver has now lapsed, and firms are required to submit their document once again.
- Firms which are required to do so must submit this return via an online form between 1st August and 31st August each year.
- Firms submitting their return after this date will be charged a £250 late administration fee.
Full details on how to access the online form are on the FCA’s website.
Next actions
Firms to whom this applies should ensure that they complete and submit both documents (director’s certificate and auditors report) during the timescale given by the FCA – between 1st and 31st August.