FCA calls for faster bereavement claim processing by life insurers
The Financial Conduct Authority (FCA) has conducted a multi-firm review of life insurers' handling of bereavement claims and the review revealed evidence of good practices, such as firms providing additional support for claimants during their difficult time. However, the FCA also acknowledged that firms can face challenges in obtaining the necessary evidence to assess a claim and has called for firms to improve their handling times for bereavement claims for delivery of positive customer outcomes, in line with the Consumer Duty introduced in July 2023.
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