Life Insurance

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Dear The Financial Conduct Authority,

Please advise whether UK life insurance companies will pay out (as a rule) in case of claim for death or critical injury for those who die or are injured as a result of taking the covid 19 vaccine or boosters, all of which are classed as experimental and only available as part of emergency use authorization?

Please provide the clause or FCA statement that governs UK insurance company decisions (mandating settlement) and handling of such an incidence.

Yours faithfully,

Derek Reid

Freedom of Information, The Financial Conduct Authority

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Customer Contact Centre, The Financial Conduct Authority

Dear Derek Reid,

Thank you for contacting the Financial Conduct Authority (FCA).

I understand you'd like to know whether UK Life Insurance companies will
pay out (as a rule) in case of claim for death or critical injury for
those who die or are injured as a result of taking the Covid 19 Vaccine or
booster. You've asked that you be provided with the clause or FCA
statement that governs UK insurance companies decisions and handling of
such an incidence. 

I can appreciate this must be an important matter for you and I can
understand why you've contacted us about this.

Our role
 
I thought it'd be useful for me to give you an overview of our remit and
what we do.?We're responsible for regulating firms in the UK who provide
financial services and products in relation to?regulated activities??(the
term we give to the business we allow a firm to do) with regards to their
conduct.  
 
Whilst we regulate insurance companies, we do not provide rules regarding
what should or should not be covered by certain policies - this is a
commercial decision of a firm. I'd therefore not be able to provide you
with any clause or FCA statement regarding this matter. 
 
Contact your insurance providers 
 
Whilst we do not set specific rules on what insurance providers do or do
not cover, we expect all authorised firms to treat their customers fairly,
as well as communicate information in way which is clear, fair and not
misleading. We also expect insurance companies to not unfairly reject any
claim.

We strongly suggest you contact your own insurance companies to ask them
to confirm what is covered within the terms and conditions of your policy
in regards to the Covid 19 vaccination. 
 
How to make a formal complaint
 
If you feel the firm are treating you unfairly, then you may wish to go
through the [1]formal complaints process. 
 
According to the [2]complaints process, there is a statutory eight week
period for a firm to respond to your complaint. After this has been
exhausted, you may have the option to escalate the case with
the [3]Financial Ombudsman Service. The Financial Ombudsman Service have
the authority to look into individual cases and can mediate between
yourself and the firms to see exactly what's happened and they can
determine whether they can look into it for you further. 

Legal guidance

If having spoken to your insurance provider you are unclear of some of the
terms and conditions of your policy; you may wish to seek your own
independent legal advice. A starting point may be speaking
with [4]Citizens Advice who provide free, independent, confidential and
impartial advice to everyone on their rights and responsibilities.  

I appreciate this may not be the response you were anticipating, however I
hope the information provided has been helpful and clarified our position.
 
Kind regards,
 
 
Harriet
Supervisor / Supervision Hub
Supervision – Retail and Authorisations / Tel: 0800 111 6768
12 Endeavour Square
London
E20 1JN
[5]www.fca.org.uk
 
Here at the FCA we’re doing all we can to help consumers and businesses
during these uncertain times. If you or someone you know has experienced
financial difficulties due to the COVID-19 pandemic, please find details
on the [6]support and guidance available to you.

show quoted sections

FCA No Reply, The Financial Conduct Authority

Dear Derek Reid,

 

At the FCA we’re always looking at ways to add value to the service
we deliver.

 

You were recently in touch with a member of our team and I’d like
your feedback. The survey will only take a few minutes to complete.

 

Please click [1]here to complete the survey. 

If you can’t see our response to your enquiry, please check your
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from [2][email address]. If you’re unable to find our
response then please do not complete the survey, instead contact us
immediately. 

 

Thank you in advance.

 

Regards,

 

Jo-Anne Ruggieri

 

Supervision Hub Manager

 

Financial Conduct Authority

[3]www.fca.org.uk

This communication and any attachments may contain personal information.
For more information about how and why we use personal information and who
to contact with any queries about this, please see our privacy notices:
FCA Privacy Notice (https://www.fca.org.uk/data-protection) and PSR
Privacy Notice
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This communication and any attachments contain information which is
confidential and may be subject to legal privilege. It is for intended
recipients only. If you are not the intended recipient you must not copy,
distribute, publish, rely on or otherwise use it without our consent. Some
of our communications may contain confidential information which it could
be a criminal offence for you to disclose or use without authority. If you
have received this email in error please notify [email address]
immediately and delete the email from your computer. Further information
on the classification and handling of FCA information can be found on the
FCA website
(http://www.fca.org.uk/site-info/legal/fc...).

The FCA (or, if this email originates from the Payment Systems Regulator
Limited, the FCA on behalf of the Payment Systems Regulator Limited / the
Payment Systems Regulator Limited) reserves the right to monitor all email
communications for compliance with legal, regulatory and professional
standards.

This email is not intended to nor should it be taken to create any legal
relations or contractual relationships. This email has originated from the
Financial Conduct Authority (FCA), or the Payment Systems Regulator
Limited.

The Financial Conduct Authority (FCA) is registered as a limited company
in England and Wales No. 1920623. Registered office: 12 Endeavour Square,
Stratford, London, E20 1JN, United Kingdom

The Payment Systems Regulator Limited is registered as a limited company
in England and Wales No. 8970864. Registered office: 12 Endeavour Square,
Stratford, London, E20 1JN, United Kingdom

Switchboard 020 7066 1000

Web Site http://www.fca.org.uk (FCA); http://www.psr.org.uk (the Payment
Systems Regulator Limited)

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