Business: Coronavirus
The question
To ask the Chancellor of the Exchequer, with reference to the FCA's letter to Stewarts LLPs, dated 23 January 2026, what assessment her Department has made of the level of compliance of insurers with the FCA's expectations to review and revisit Covid Business Interruption claims following post-Test Case court rulings.
Answered by Lucy Rigby
The Financial Conduct Authority (FCA), as the independent regulator for financial services, sets the conduct standards required of insurance firms. The FCA has made clear its expectation that insurers carefully consider how new legal rulings affect claims they have already decided. It is for the FCA to supervise firms and, if necessary, take action against those that do not comply with its rules. The FCA has robust powers to take action where it deems appropriate.
The FCA’s 23 January letter (available online at: https://www.fca.org.uk/publication/correspondence/fca-response-insurance-open-letter.pdf) stated that the FCA stopped publishing business interruption claims data in March 2023. Questions about data held by the FCA can be addressed directly to the FCA.
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