James Bridge, Assistant Director, Head of Conduct Regulation, Association of British Insurers, said:
“Every day home insurers pay out over £8 million in claims to customers, and are committed to doing all they can to ensure that insurance delivers when the worst happens. The FCA data shows that the vast majority of claims are paid out.
“Our own claims analysis has highlighted some common areas of misunderstanding and we have published a home insurance guide to help consumers. Customers also need to ensure that they do not simply buy on price but make sure they have cover at the levels they need.”
A copy of the FCA release can be found here