COVID-19: FCA seeks business interruption insurance ruling
Released 15 May 2020
The Financial Conduct Authority (FCA) is urging SMEs who have experienced difficulties making claims under business interruption (BI) insurance policies during the pandemic to join its test case challenging insurers’ decision making.
The regulator says a large number of claims have been made as a result of the impact of COVID-19, and highlights continuing and widespread concern about the lack of a positive response of some of those BI insurance policies, and the basis on which some insurers are making decisions in relation to claims.
Further information can be found at https://www.fca.org.uk/news/statements/business-interruption-insurance-during-coronavirus.