General Insurance Article - FCAs expectations for GI firms during coronavirus pandemic


The FCA has set out expectations for general insurance firms and provided information for consumers about what they should see from their insurance provider during the coronavirus pandemic.

 The FCA has provided information about a number of topics including travel, motor and home, and private medical insurance. It also provides clarification in relation to suspension of products and policy renewals.

 Christopher Woolard, interim Chief Executive of the FCA said: 'We have already seen some firms make significant efforts in difficult operating conditions. We expect all firms to be clear and not misleading whenever they communicate and be fair and professional in how they deal with their customers.

 'Customer behaviour is changing. We expect insurance firms to recognise this and treat their customers fairly, recognising the circumstances customers may find themselves in. We would not expect to see a customer’s ability to claim affected by circumstances over which they have little control.

 'Any customer concerned about their insurance should consider contacting their provider with any questions they may have.'  

Back to Index


Similar News to this Story

Car and home insurance premiums continue downward trend
Insurance premiums for both motor and home continued their downward trajectory in Q2 2025, but the latest data from Pearson Ham Group’s General Insura
Cyber insurance as a risk mitigating tool
Morningstar DBRS released a commentary about cyber insurance as a risk mitigating tool against enhanced cyber risks affecting corporates, small and me
Call for simplification of EU cybersecurity regulation
Insurance Europe has welcomed the European Commission’s review of the Cybersecurity Act (CSA) and the forthcoming digital omnibus initiative, supporti

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.