The type and level of relief provided to insurers in an Extraordinary Catastrophe should be considered, as should the consequences for fair and efficient claims handling. This includes:
- The timing of the relief – before the event, in the immediate aftermath and up to 12 months following the event.
- Factors other than timeframes that could be subject to relief.
- The minimum commitments insurers are expected to meet; for example, prioritising vulnerable customers, supporting policyholders with emergency situations, including temporary accommodation, and communication standards.
SrcNUM
Recommendation 7.2
RecCODE
INQref