FCA orders insurers to pay claims swiftly following Supreme Court ruling
In a letter to insurers, FCA executive director Sheldon Mills, urges firms to reassess and settle valid BI claims.
The Financial Conduct Authority (FCA) has urged insurers to pay out all valid business interruption claims “as soon as possible” after the Supreme Court dismissed insurers’ appeals in the judgment published on 15 January.
In a Dear CEO letter to insurers Sheldon Mills, executive director, consumers and competition, at the regulator has outlined the FCA’s next steps and its expectations of insurers and managing general agents.
He stated: “We believe the Court judgments in the test case give all
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