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Loan And Finance

Business Interruption – FCA publishes insurer progress update 7 January 2022

fca image 25

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.


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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