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<p>The Government is determined that insurers should treat customers fairly and firms
are required to do so under the Financial Conduct Authority (FCA) rules. The FCA sets
the conduct standards required of insurance firms which aim to ensure consumers are
treated fairly. This includes provisions relating to the handling of claims by insurers.
The rules state that insurers must handle claims fairly and promptly; provide reasonable
guidance to help a policyholder make a claim, and appropriate information on its progress;
not reject a claim unreasonably; and settle claims promptly once settlement terms
are agreed. Furthermore, through the Enterprise Act 2016, the Government introduced
a legal requirement for claims to be made within a reasonable timescale, and created
an entitlement to damages where claims are paid late.</p><p> </p><p>Following discussions
with the Metropolitan Police, the Treasury has formally certified the London Bridge
attack as an act of terrorism, following an established legal process. This is a necessary
step before any claims can be made on the terrorism reinsurer, Pool Re. The Treasury
recognises the urgency of responding to requests for certification and treats this
as a matter of priority.</p>
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