A claims management compliance consultant assists authorised claims management companies (CMC’s) with their compliance obligations to the Claims Management Regulator which is part of the Ministry of Justice (MoJ).
For firms with limited internal compliance capacity consultants can form a core part of compliance management. For larger firms with significant internal compliance capacity consultants are often engaged where there is a specific compliance requirement. Compliance obligations cannot be outsourced to a consultant but a good compliance consultant will enable a firm to meet their obligations through cost-effective solutions.
When selecting a claims management compliance consultant firms should consider the following key issues:
• What experience does the compliance consultant have in the area of compliance that firm requires assistance with, and is their knowledge up to date.
• What capacity does the claims management compliance consultant have, and do they have any contingency arrangements in the event that they are unable to undertake the work due to unforeseen circumstances.
• Are they able to provide workable solutions rather than just identify problems
• Will they be able to work with key individuals in the firm, and will they add value to the firm.
You can read more about the compliance obligations of claims management companies on the MOJ’s website or find out more by downloading our free guide below.
We’re not just a claims management compliance consultant; we’re a team of expert consultants with experience and proven results in all aspects of claims management compliance & claims management authorisation. Our team consists of ex-regulators, legal practitioners and industry professionals.
Whether you are proactively seeking to ensure your firm is compliant, or need assistance with a compliance headache, we offer practical solutions that work for your firm.
Speak to one of our experts today for confidential and no obligation advice about claims management compliance & claims management authorisation