UK regulator criticises insurers on handling of Covid-related claims
Some insurers have “fallen short” of meeting regulatory requirements when handling coronavirus-related business interruption claims, while others have not met them consistently, the UK’s financial watchdog has warned.
The Financial Conduct Authority said on Tuesday it would use “all regulatory tools” to rectify the “significant issues” it had encountered when analysing companies’ handling of such claims.
Business interruption claims have proved an area of significant controversy for insurers since the start of coronavirus lockdowns in March 2020.
This story originally appeared on: Financial Times - Author:Robert Wright
