Article preview: People with insurance policies who are facing financial difficulties due to the Covid-19 pandemic will receive more support under new rules. The Financial Conduct Authority (FCA) is proposing that insurance providers should try to help customers with insurance and premium finance products, who are in financial difficulty because of Covid-19, after existing support ends on 31st October 2020. The new support follows temporary measures that were introduced in May. Under the proposed guidance, providers should offer tailored support to customers who have already received a payment deferral, as well as to those newly in financial difficulty due to changed circumstances relating to the coronavirus pandemic.
More help for struggling insurance customers
This 387-word blog post looks at new guidance from the Financial Conduct Authority, designed to help insurance customers who are in financial difficulty due to the Covid-19 pandemic. Written on 17th October 2020.
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