The Financial Conduct Authority has warned insurers that a Supreme Court decision earlier this month mean they need to pay up quickly and not create extra barriers for businesses awaiting Covid disruption payouts. The watchdog has warned insurance firms they must not refuse claims simply because customers delayed contacting them while the legal case rumbled through the courts. Hiscox, one of the insurers involved in the case, has already said it expects to pay out an extra $48m (£35m) as a result of the decision.
Read more: The Daily Telegraph
Visit our website here for more news and product information, or click the button below to submit a short enquiry form for your finance needs.