Covid-19: FCA confirms measures to help financially strained insurance customers

money

Move requires firms to consider payment deferrals, premium reductions and waiving cancellation fees.

The Financial Conduct Authority (FCA) has confirmed a series of temporary measures to help insurance and premium finance customers who may be in financial difficulty because of coronavirus.

The regulator detailed that, following a short consultation, the measures being implemented on 18 May require firms to consider what options they can provide to customers including: 

Reassessing the risk profile of customers. This may have changed because of coronavirus and there may be scope to offer

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 info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Interview: Sabre CEO Geoff Carter

Sabre boss Geoff Carter tells Insurance Age about the upsides for brokers from its IHP rollout, growing in motorbikes after the collapse of MCE and profitable expansion plans in taxi.

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: