Britain’s Financial Conduct Authority (FCA) aims to get business interruption insurance policies examined by a court as soon as July, a member of a policyholder action group said on Thursday. The Hiscox Action Group, which is seeking to sue Hiscox …
Two law firms said on Tuesday they were gathering companies in Britain for a potential group lawsuit against German insurer Allianz for rejecting business interruption claims during the coronavirus pandemic. Edwin Coe and Harris Balcombe said they wanted to challenge …
Britain’s financial watchdog said on Friday it would urgently ask the courts to clarify uncertainty over whether businesses can claim compensation for disruption caused by the coronavirus pandemic. The Financial Conduct Authority (FCA) also told all insurers to assess whether …
Most insurance policies bought by smaller UK companies do not cover disruption caused by the coronavirus pandemic, but those that do should make interim pay-outs quickly, a watchdog said on Wednesday, as insurers come under fire for being slow to …
World insurers told governments on Monday that making them pay out on losses suffered due to the coronavirus that were not covered by policies risked destabilizing the insurance industry. With the global economy hammered by measures to halt the spread …
The UK Financial Conduct Authority (FCA) reminded insurers on Thursday to have “robust” operational resilience and business continuity plans in place to respond to possible disruptions caused by the coronavirus pandemic. The FCA expects firms to have “sufficiently robust systems …
Britain’s Financial Conduct Authority (FCA) has admitted an accidental leak of confidential information, including the names and some contact details of people who had made complaints against the watchdog in 2018 and 2019, on its website. The FCA said on …
Financial firms in Britain should be ready in case no trade agreement is struck with the European Union by December, a senior U.K. regulator said on Thursday. Britain leaves the EU next week, followed by a “business as usual” transition …
Britain’s markets watchdog told financial advisers on Tuesday they face a two-year crackdown to stop unsuitable advice, investment scams and excessive fees. The Financial Conduct Authority (FCA) said in a “Dear CEO” letter to heads of financial advice firms it …
Britain’s markets watchdog has told the bosses of commercial insurance companies to stamp out bad behavior in the industry and improve diversity, or risk losing their jobs. The warning follows last year’s admission by Lloyd’s of London of sexual harassment …
