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ABI comments on FCAs initial findings thematic review household and travel insurance claims handling

The Financial Conduct Authority (FCA) today published initial findings of its thematic review on household and travel insurance claims handling.

Commenting on the findings, an ABI spokesman said:

"Claims service is the shop window by which consumers judge the insurance industry, which is why we are pleased that the FCA’s initial findings of its review into household and travel insurance claims is not proposing any new requirements for firms.

"Millions of households and businesses rely on the financial protection of insurance, with insurers customers protection insurance provides, with insurers paying over £31 million to customers every day for motor, household and travel insurance claims alone. The recent floods and storms which led to over 17,500 claims from customers is further evidence of the vital role insurance plays in people’s everyday lives.

"We will continue to work with the FCA in their review and await the publication of their full report in May.”

Last updated 01/07/2016