Comment from Scott Egan, Chief Executive of RSA UK and International, in response to today’s announcement of the Financial Conduct Authority’s court proceedings on business interruption insurance, first announced on 1 May.
“COVID-19 has had a huge impact on individuals and businesses, many of whom are rightly turning to their insurers for help. RSA is committed to providing the best support and service for our customers at every stage, responding to enquiries and settling claims as quickly as possible. Unfortunately some people are not covered, and we make any decision to decline a claim very carefully, doing so supported by a thorough investigation of the circumstances and legal advice.
“We are fully supportive of the FCA’s planned court proceedings as we believe this route will bring about the quickest resolution of disputed cases for customers, and we have been working closely with them. While today’s announcement names 16 insurers, the judgements of the test case will provide guidance to inform the assessment of policies and claims for all providers of business interruption cover.
"Our shared ambition is that this process will deliver fair and consistent outcomes for customers no matter who they are insured by, and we look forward to the resolution the test case will bring.”
A statement for our investors regarding the FCA's business interruption court proceedings is available here.
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