https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel<\/a>.<\/p>Under the independent Financial Conduct Authority\u2019s (FCA) rules, insurers are required to handle claims fairly and promptly and settle claims quickly once settlement terms are agreed. The FCA has also outlined that all deductions from business interruption insurance settlements should be assessed on a case-by-case basis as policies differ significantly. The FCA may intervene and take further actions where firms do not appear to be meeting their expectations.<\/p>
<\/p>
Policyholders who feel that their claim has not been handled fairly may be able to refer the matter to the Financial Ombudsman Service, an independent body set up to provide arbitration in such cases.<\/p>
<\/p>
The information requested on business insurance premiums is not held. The Government works closely with the FCA and insurers to support businesses who are under pressure from the rising cost of living. The Government recognises the impact of increased costs on small businesses and has taken unprecedented action to protect millions of businesses, including the Recovery Loan Scheme, which has been extended until June 2024, cutting business rates by 75% for eligible retail, hospitality and leisure businesses in 2022-23, support via the Energy Bill Relief Scheme, and increasing the Employment Allowance to £5,000.<\/p>"}
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