LONDON, July 24 (Reuters) - Britain's markets watchdog said
it was proposing to extend temporary relief measures to help
insurance customers facing difficulties due to the coronavirus
pandemic until the end of October.
The Financial Conduct Authority introduced temporary
guidance to insurers in mid-May for three months to avoid
consumers leaving themselves uninsured because they could not
afford the premiums.
"Where amendments to the insurance cover do not help
alleviate the customer’s temporary payment difficulties, firms
will be expected to grant a payment deferral of between 1 and 3
months, unless it is obviously not in the customer’s interest to
do so," the FCA said in a statement.
(Reporting by Huw Jones; Editing by Hugh Lawson)