7 April 2004

Unlimited Insurance companies: A consultation

In her statement to the House of Commons on 8 March 2004, at the time of the publication of the Penrose Report on Equitable Life Assurance Society (ELAS), Ruth Kelly, the Financial Secretary to the Treasury, announced that as the report raised a number of issues concerning the unlimited liability status of ELAS the Treasury intended to publish and consult on draft legislation to protect policyholders in the event that ELAS’s unlimited status were ever to become material.

This consultation document covers draft clauses which deal with the issue of unlimited liability which could potentially affect certain policyholders of ELAS and a small number of other companies.

The document ‘Unlimited Insurance companies: A consultation document' is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.

PDF file of Unlimited Insurance companies: A consultation document (219Kb)