RSA Group

FCA warns of action on BI claims deductions

The Financial Conduct Authority has warned insurers making deductions to non-damage business interruption claim payments based on government payouts that it will intervene if firms do not meet its expectations and treat customers fairly.

QC calls on court to treat insurers fairly

Insurers dived into the causation debate during today's proceedings, slamming the Financial Conduct Authority’s approach to the ‘but for’ test as the business interruption case continued in the High Court.

FCA versus insurers as test case showdown begins

It was today confirmed up to 370,000 policyholders may be affected by the Financial Conduct Authority's High Court case, which aims to decide on the validity of business interruption cover during the coronavirus outbreak.

Insurers haul brokers into FCA BI case again

A joint skeleton argument attacks the FCA’s stance that SME customers are not sophisticated insurance buyers because they used brokers and slams Contra Proferentem as “restrictive” and “out of step”.

RSA walks back on Marsh criticism in FCA's BI test case

As RSA changed its mind on part of its argument that drew criticism from Marsh, the Financial Conduct Authority said insurers were failing to take account of “the true nature of the insurance provided” in its business interruption test case, according to…

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