CII calls on sector to act now to avoid future FCA test cases
Body urges industry to work on product governance, improving advice processes and establishing an approach to pandemics.
The Chartered Insurance Institute (CII) has called on the insurance industry and government to act now to reduce the need for legal proceedings like the Financial Conduct Authority’s (FCA) business interruption test case in future.
The court case was held in July and the court will hand down its decision today (15 September).
Areas
The professional body urged the sector to focus on the following three areas:
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