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Loan And Finance

Business Interruption – FCA publishes insurer progress update 7 January 2022

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The FCA has published the latest data they have collected (7 January 2022) from all affected insurers on the progress of their non-damage business interruption (BI) insurance claims.

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What the data includis

Insurers have submitted their data on their progress with BI claims. We have decided to publish, at an individual firm level, the number of:

  • BI claims where the insurer has received all the information required to enable them to calculate the total value of the claim
  • BI claims for Covid-19 related loss that have been accepted
  • BI claims where the insurer’s decision as to whether there is a valid claim is pending
  • unsettled BI claims where an interim/initial payment has been made to the policyholder or their representative
  • BI claims where an offer of final settlement has been made, accepted by the policyholder, and paid in full



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