Handling of insurance claims for small and medium-sized enterprises (SMEs)

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This report presents the findings from the FCA's thematic review which looked into the handling of claims for SMEs. The prompt and fair settlement of claims may be of particular importance to SMEs as it could be critical to their business in the event of a major disruption. In addition SME claims of a certain size tend to be more complex, for example than household claims and often involve several parties in the assessment and settlement of the claim.

In this review we found that there was a gap between the claims service received and SMEs' expectations. There was an overall poor perception by SMEs of the claims experience and some SMEs stating that they had not been treated fairly. This was in contrast to what we found in the retail claims review.