FSCA slams insurers over business interruption stance

  • 📰 IOL
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The Financial Sector Conduct Authority says insurers avoiding paying business interruption claims where no grounds exist to do so are acting contrary to the Treating Customers Fairly regulatory regime

In a statement issued today, the Financial Sector Conduct Authority says insurers avoiding paying business interruption claims where no grounds exist to do so are acting contrary to the Treating Customers Fairly regulatory regime, that it is engaging with insurers on the issue, and that it may issue directives to insurers that are "non-compliant".

The FSCA says it has communicated this view to insurers and will take action against those that do not treat their customers fairly.

Based on the information received and analysed by the FSCA to date, the regulator says it found that, although it could not find evidence that the national lockdown could be a trigger for a valid business interruption insurance cover claim, policyholders are able to claim in instances where they can show that they have satisfied the requirements of their specific policy, whether it was before, during or after the lockdown.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 46. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Read the fine print: Business insurance payouts | CitypressIt is no surprise that business interruption insurance has been in the spotlight, with Covid-19 and the resulting lockdown devastating the tourism and hospitality sectors.
Källa: City_Press - 🏆 7. / 72 Läs mer »