A claims management firm offers advice and services in respect to claims for compensation. Not only do claims management companies deal with personal injury claims but they also deal in financial services claims from consumer credit agreements such as loans, bank charges, credit card charges and payment protection insurance (PPI).
Claims management companies take the hassle out of claiming, by claiming for compensation on your behalf. They will then take a percentage fee if you win the case.
All claims management companies have to be authorised by the Claims Management Services Regulator. It is a crime for someone to provide or offer claims management services without being authorised to do so first.
The Claims Management Services Regulator ensures and monitors that claims management companies are meeting a set standard of competence and conduct themselves in a professional manner. The regulator also ensures that arrangements are made for the protection of the consumer, including complaints handling.
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