....as FCA study highlights cases with 'unacceptable' hold-ups

The insurance industry's system for dealing with claims is said to be in need of a major shake-up after a watchdog's survey highlighted numerous examples of poor practice and delays in reaching settlements. A study by the Financial Conduct Authority looked at the handling of insurance claims in excess of £5,000 submitted by 100 small and medium-sized firms and discovered a significant number of cases of unacceptable hold-ups due to poor communication with claimants. The FCA has also found frequent delays in the initial visit by loss adjusters, claimants left feeling unclear about what actions they should take to minimise disruption to their businesses and a lack of clarity over the next steps in the claims process......Read more here