In numbers: The FCA’s business interruption insurance test case
Updated: The Financial Conduct Authority has received 105 letters from MPs concerned about business interruption insurance, 51 relating to RSA’s Cottagesure policies, according a representative of the regulator, who revealed several key stats in his witness testimony for its BI test case.
The regulator expects 8500 claims could fall under the test case policy wordings, while the total value of these claims could be £1.2bn, FCA director of general insurance and conduct specialists
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