Levy on insurers

The levy
13
1
The Secretary of State must make regulations requiring active insurers to pay a levy with a view to meeting the costs of the Diffuse Mesothelioma Payment Scheme during any given period.
2
In deciding the total amount of the levy for a period the Secretary of State—
a
may take account of estimated as well as actual costs;
b
may deduct the amount of any sums recovered or expected to be recovered under the recovery of benefits legislation during the period in respect of scheme payments made during the period or before it.
3
In deciding the total amount of the first levy the Secretary of State may reduce it to reflect any amount of costs to be met by the Secretary of State.
4
In deciding the total amount of the levy for each of the first 4 periods, the Secretary of State must have regard to the desirability of the total amount of the levy for each of those periods being the same (or if those periods are not equal, the same pro rata) even if that means the amount for a period does not match the costs for that particular period.
5
The regulations may require different active insurers to pay different amounts based on criteria relating to their relative market share in the reference period (and may provide for their relative market share to be determined in whatever way the Secretary of State thinks appropriate).
6
The regulations may make provision about—
a
information to be published or given to active insurers by the Secretary of State;
b
payment of the levy, including the timing of payments;
c
recovery of the levy.
7
In this section—
- “active insurer” means a person who, at any time during the reference period, was an authorised insurer within the meaning of the compulsory insurance legislation;
- “the costs of the Diffuse Mesothelioma Payment Scheme” means—
  1. the cost of payments under the scheme,
  2. the costs of administering the scheme, and
  3. any costs incurred by the Secretary of State to establish a body with whom to make arrangements under section 7(1)(b);
- “the recovery of benefits legislation” means—
  1. the Social Security (Recovery of Benefits) Act 1997, or
  2. the Social Security (Recovery of Benefits) (Northern Ireland) Order 1997 (S.I. 1997/1183 (N.I. 12));
- “reference period” means a 12-month period determined in accordance with the regulations, and a reference period may be a period before this Act was passed.
S. 13 in force at 1.9.2014 by S.I. 2014/459, art. 4