In a series of recent statements, the UK Financial Conduct Authority (FCA) has set out how it expects the insurance industry to help consumers and businesses affected by the coronavirus.
The FCA would like to see a degree of consistency across the industry in how business interruption claims are handled. To help to achieve such consistency, the FCA is planning to ask the English court to make declarations about the scope of various business interruption (BI) clauses.
Continue Reading FCA’s Statements about Insurance and the Coronavirus: Competition Considerations