FCA urges insurers to take action on BI claims payments


The Financial Conduct Authority (FCA) has called on insurers to speed up the process of paying pandemic-related business interruption (BI) claims.

In a letter to providers published on 25 August but sent to firms on 28 April, FCA director Matt Brewis stated that BI claims payments were not made in a timely manner and in line with the BI Insurance test case judgment.

He further warned that in cases where insurers were not meeting the FCA’s expectations, it would use the full range of its

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: