Draft guidance for insurance companies

As part of its investigation into Coronavirus (COVID-19) related business interruption insurance, the Financial Conduct Authority (FCA) have published draft guidance on expectations for insurers and insurance intermediaries when handling claims and complaints for business interruption policies during the test case. The guidance highlights the steps firms should be taking to: identify the potential implications of the test case on decisions to reject claimskeep policyholders informed about the test case and its implications for policies, claims and any settlement offerstreat policyholders fairly when the test case is resolved https://www.fca.org.uk/publications/guidance-consultations/business-interruption-insurance-test-case-draft-firms In addition, the FCA have provided an update on where they are in terms of their legal case – they have […]

Honouring bookings and advertising availability

To help further clarify, no bookings can lawfully be honoured in respect of ‘stays’ during any restricted period, which is currently up to 18 June 2020 unless you are requested to re-open by the Local Authority or Welsh ministers for specific purposes only.  As a reminder, businesses should also not be advertising availability during a restricted period. If you advertise via third party websites or the Online Travel Agencies, please take some time to review your entries on these sites and amend your availability accordingly. You are able to accept bookings or reschedule bookings that fall outside this restricted period, however, there is a risk the restrictions will remain in […]