Craig says insurers want “straightforward” claims process
The ABI has welcomed the Financial Conduct Authority (FCA) probe into personal lines claims handling, it was announced yesterday at the 2013 Biba conference.
ABI director of financial conduct regulation Maggie Craig said: “Millions of individuals and businesses rely on the vital financial protection insurance provides, with insurers paying more than £28m to customers every day for household and motor claims alone. Insurers want to offer products that do what they say on the tin, with clear policy language and a straightforward claims process.
“Claims service is the shop window by which the industry is often judged, and insurers are continually looking at how they can provide the best possible service to customers. We have been working with the FCA since early last year and look forward to engaging with the regulator on their thematic review.”
Click here to read the Regulation Report with news and views live from the floor at the Biba conference.
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