FCA publishes insurer claims data

The FCA has published the latest data it has collected (as of 5 September 2021) from all affected insurers on the progress of their non-damage business interruption insurance claims. The data includes 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; and
• BI claims where an offer of final settlement has been made, accepted by the policyholder, and paid in full.