The Financial Services Authority sought public interest orders for the winding up of three companies selling, it said, extended warranty cover plans without authorisation. The companies said that authorisation was not required, since only services in kind, namely repairs, were provided.
Held: The orders were made. Warren J rejected that argument that the services were not contracts of insurance.
Judges:
Warren J
Citations:
[2011] EWHC 122 (Ch), [2011] Bus LR 981, [2011] 1 CLC 249
Links:
Statutes:
Financial Services and Markets Act 2000, First Council Directive 73/239/EEC, Council Directive 84/641/EEC
Jurisdiction:
England and Wales
Citing:
Cited – Phoenix General Insurance Co of Greece SA v Halvanon Insurance Co Ltd ChD 1985
The court was asked to consider preliminary issues concerning facultative obligatory (fac. oblig.) reinsurances of a variety of business. The issues included whether the reinsured was obliged to keep a retention and whether the writing of its . .
Cited – Card Protection Plan Ltd v Commissioners of Customs and Excise ECJ 25-Feb-1999
A company procuring insurance purchases for credit card protection was as exempt from VAT as was the insurer. A provision which restricted the ability to claim such exemption to those registered as insurers under national was invalid under European . .
Cited by:
At First Instance – Digital Satellite Warranty Cover Ltd and Another v Financial Services Authority SC 13-Feb-2013
The appellants challenged an order for the dissolution of their company under the 2000 Acts. They had provided warranties for assorted consumer electrical goods which amounted to insurance, but said that they were not required to be registered under . .
Appeal from – Digital Satellite Warranty Cover Ltd v The Financial Services Authority CA 29-Nov-2011
Parties appealed against on order for the winding up of the company. The Authority (FSA) had said that the company which supplied warranties to owners of digital receiver boxes were providing regulated insurance services, but that the companies were . .
Lists of cited by and citing cases may be incomplete.
Financial Services, Insurance
Updated: 03 June 2022; Ref: scu.428354
