FCA Calls For 'Prompt' Handling Of Storm Insurance Claims
Law360, London (January 13, 2021, 11:41 AM GMT) -- The Financial Conduct Authority has warned insurance company bosses to handle flood claims from December "promptly and fairly," despite the operational challenges created by the COVID-19 pandemic.
The watchdog said it is critical that insurers do not delay in paying out claims to policyholders whose homes were damaged by flooding from Storm Bella over Christmas. The storm, which struck on Dec. 26, caused widespread flooding across the U.K., particularly in coastal communities.
The FCA said in an update on its website on Tuesday that insurance companies are likely to face "operational challenges" resulting from staff absences and home working. But it...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!