Following the recent liquidation of a Tier 2 Medical Reporting Organisation (MRO) medical experts working with MROs should take note of the following.

• The amount of security is set by the Ministry of Justice and stipulated in the MRO qualifying criteria.
• The security amount is currently £20,000 for T2 MROs and £100,000 for T1 MROs.
• These amounts are the maximum payable for the total of all claims submitted to the security bond provider (i.e. not for each individual claim)
• All security bonds (financial instruments) are provided by third parties who have no links with MedCo.
• Any claims under the security bond have to be made directly to relevant bond provider.

For more information relating to Financial Instruments / Bonds please refer to the following documentation.

• MoJ MRO Qualifying Criteria February 2021
• Section 1.4 of the Guidance on MoJ Qualifying Criteria September 2022