May 1, 2020 / 6:11 AM / a month ago

BRIEF-UK watchdog sets out measures on business interruption policies

May 1 (Reuters) - Aviva PLC:

* FCA SEEKS LEGAL CLARITY ON BUSINESS INTERRUPTION INSURANCE

* IT IS ALSO PROPOSING A SERIES OF MEASURES TO SUPPORT BOTH CONSUMERS AND BUSINESSES WHO HOLD INSURANCE PRODUCTS

* PACKAGE OF MEASURES SETS OUT FCA’S EXPECTATIONS THAT INSURANCE FIRMS SHOULD CONSIDER WHETHER THEIR PRODUCTS STILL OFFER VALUE

* FCA SAYS THERE REMAIN A NUMBER OF BUSINESS INTERRUPTION POLICIES WHERE IT IS CLEAR THAT FIRM HAS AN OBLIGATION TO PAY OUT ON A POLICY Source text for Eikon: Further company coverage: (Reporting By Huw Jones)

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