This guidance sets out measures to help customers who hold insurance and premium finance products and who are in temporary financial difficulty because of coronavirus.
On 14 May 2020, we published guidance setting out our expectations for insurance firms when considering the fair treatment of existing customers in financial difficulty, due to circumstances arising from coronavirus. We published proposed updated guidance on 24 July 2020.
Stakeholders expressed support for our proposal during a short period for comments. We have therefore finalised our updated guidance which will extend measures to help customers who are in temporary financial difficulty.
We have disapplied some rules in our Consumer Credit sourcebook (CONC) to give effect to this guidance.