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.
Read Finalised Guidance (PDF)[2]
On 14 May 2020, we published guidance[3] 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[4] 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[5] in our Consumer Credit sourcebook (CONC) to give effect to this guidance.