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