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Tag Archives: SMEs

Posted in Market developments, Regulatory and legislative updates, UK

FCA publishes “Dear CEO” letter concerning Covid-19 and business interruption insurance for SMEs

Insurers and business interruption insurance policies have been coming under increasing scrutiny as a result of the economic disruption to business as a result of Covid-19. Yesterday, the FCA published a “Dear CEO” letter to insurers setting out its expectations in relation to the assessment, settlement and payment of claims to SMEs under business interruption

Posted in Regulatory and legislative updates, UK

UK: FCA Thematic Review – Insurers not delivering on SMEs’ great expectations

An FCA review into insurance claims handling for small and medium-sized enterprises found that insurers were not meeting the expectations of SMEs in their handling of insurance claims. In the review, published on 22 May 2015, the FCA found that there was an overall poor perception by SMEs of the claims experience, with some SMEs