Hard-pressed households set for lower bills as watchdog asks insurers to grant payment holidays and cut premiums Insurers asked to offer three month payment holidays from Monday next week They will also have to offer more suitable policies and waive fees attached Policyholders will have until the 18th of August to apply for a payment holiday … Read more
Health is the number one priority for most at the moment, as the coronavirus pandemic creates a sharp focus on our mortality. Due to the ongoing pandemic, a number of private hospitals have been taken over by the NHS, to ensure that as many people as possible can get the treatment they need. Whilst this … Read more
Insurers are threatening to sue the very same companies taking them to court over unpaid business interruption claims. In recent weeks there has been a series of disagreements between firms forced to close due to coronavirus and the insurers refusing to pay out their business interruption claims. Policyholders are taking Hiscox to court in a class action … Read more
FCA tells insurers: See you in court, after thousands of desperate firms have their Covid claims rejected By James Salmon for the Daily Mail Published: 21:50 BST, 1 May 2020 | Updated: 21:50 BST, 1 May 2020 Desperate businesses battling to survive the Covid-19 crisis were given a glimmer of hope yesterday as the City … Read more
All insurers are being warned they must not seek to profit from the pandemic. The industry is expected to pay out more than £1.2 billion due to the virus, according to the Association of British Insurers (ABI). But firms are already facing legal action after refusing payouts to crippled businesses, while others are expected to … Read more
Nearly HALF of major insurers have pulled travel insurance products from sale because of the coronavirus crisis, says Which? The consumer champion contacted 75 insurance providers during a study 31 of the 75 insurers contacted have temporarily stopped sale of their policies A further 13, including Axa and Staysure, have changed aspects of their policies … Read more
Insurers told to pay out to firms forced to close by coronavirus but thousands are warned they’re not covered FCA urges insurers to act swiftly to pay out on coronavirus-related claims But the watchdog also warned that most firms aren’t actually covered It comes as IMF labels coronavirus crash will be the worst hit to … Read more