FCA Extends Insurance Virus Breaks For 3 Months

Law360, London (August 11, 2020, 3:16 PM BST) -- The Financial Conduct Authority on Tuesday extended for a further three months temporary measures to help consumers who are struggling to pay their insurance premiums during the coronavirus pandemic.

The regulator said it had received broadly positive feedback to its consultation on the extension, which opened late July and lasted for just four days.

The rules require insurers to offer support to customers struggling to pay premiums after having lost their jobs or fallen ill. The measures were originally introduced for three months from May 18. They now apply until Oct. 31, the FCA said.

"We wanted to act quickly to...

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