Managing Public Expectation in the Covid Crisis

Presented by

Roger Flaxman and Michael Wilson, Flaxman Partners

About this talk

The Covid-19 crisis has hit the insurance industry hard and many claims in relation to travel and events will already be on their way to being settled. But UK business was led to believe that business interruption (BI) claims would automatically be covered just because the government announced that Covid-19 would become a declarable disease. This has not worked out as well as most policyholders had hoped. This webinar investigates why Covid-19 and BI has become such a controversial area and considers some ways to tackle the problem. Areas covered include: Principles of BI cover The ABI (Industry) position: What it is and what it implies for practitioners The FCA – including the “Dear CEO” letter Press reports The impact on the public perception and how to deal with it The technical arguments Litigation Group actions Pros and Cons of litigation FOS: Pros and Cons of using it Flaxmans’ campaign to the industry and government

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We are the professional body for the financial planning profession in the UK. Our remit is to lead the financial planning community towards higher levels of professionalism exhibited through technical knowledge, client service and ethical practice. We are part of the Chartered Insurance Institute group and aligned with its Royal Charter that requires we secure and justify the confidence of the public.