Customers in temporary financial difficulty: updated guidance

August 2020

Measures designed to ensure firms provide support for customers with insurance and premium finance products facing temporary financial difficulties arising from coronavirus (Covid19) came into force on 18 May 2020. The FCA has now extended the relevant rules and guidance until 31 October 2020 and set out in more detail its expectations on how firms should treat customers still in financial difficulties at the end of a payment deferral period. The FCA is also considering whether elements of the guidance should be put in place permanently.

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