FCA guidance for insurers and insurance intermediaries during business interruption test case

This FCA guidance highlights the steps that the FCA expects firms to take in order to:

• identify the potential implications of the test case on their decisions regarding claims and complaints;
• keep policyholders informed about the test case and its implications; and
• treat policyholders fairly during the test case and when it is resolved.

The guidance came into effect on 17 June 2020.

Link to related article: https://www.fca.org.uk/publications/finalised-guidance/business-interruption-insurance-test-case