FCA has published its finalised guidance extending its temporary guidance on how it expects firms to act when customers are making claims for cancelled events or travel arrangements.
The guidance takes effect from 2 April and will continue in effect until FCA says otherwise.
The guidance is unchanged, but the feedback statement addresses some of the few comments received. One comment was to note that FCA expects insurers to ask questions to help a consumer assess whether they may have a claim under s75 CCA. The respondent said insurers could not be expected to know this – but FCA points out it has provided a list of questions that should help to determine whether there is any likelihood the customer could have a claim, and that the aim is not to send consumers to their credit card provider when there is no prospect of coverage. Another respondent queried in which order consumers should speak to their travel provider, insurer or card provider. FCA notes there is no “one size fits all” answer to this, but says it is usually easiest for the consumer to start with the retailer.