Urgent – action required by group risk firms to implement FCA’s final guidance on Coronavirus and customers in temporary financial difficulty – GRiD

The FCA has now confirmed a series of temporary measures to help customers who hold insurance and premium finance products and who may be in financial difficulty because of coronavirus (Covid-19). The FCA’s final guidance on how it expects all regulated firms to deal with customers who may be experiencing temporary financial difficulty as a result of the coronavirus pandemic applies to all general insurance and protection policies and will come into force on Monday 18 May 2020. The measures will be reviewed in the next 3 months in the light of developments regarding coronavirus and may be revised if appropriate.

The FCA's press release, which includes a link to the final guidance, can be found by following the link below.

https://www.fca.org.uk/news/press-releases/fca-confirms-measures-insurance-customers-coronavirus

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