Business
Hiscox Ltd response to FCA announcement
Hiscox Ltd response to FCA announcement.
About this update from Hiscox Ltd
[{"type":"text","content":"\n \n \n RNS Number : 5038O\n Hiscox Ltd\n 01 June 2020\n \n \n \n \n \n \n \n \n \n \n Hiscox Ltd response to FCA announcement\n \n \n \n \n \n \n Hamilton, Bermuda (1 June 2020)\n \n - Hiscox, the international speciality insurer, welcomes today's announcement from the Financial Conduct Authority in the UK regarding the proposed legal test case in relation to business interruption wording in UK property insurance policies.\n \n \n \n \n \n As set out in previous announcements, Hiscox recognises these are extremely difficult times for businesses and is committed to seeking expedited resolution of any contract dispute. Hiscox has agreed to assist the FCA by participating alongside other insurers in the test case in order to provide certainty for businesses and brokers on the application of policies as quickly as possible.\n \n \n \n \n \n As described in the company's Q1 Trading Statement on 5 May, Hiscox is actively settling claims for event cancellation and abandonment, media and entertainment and other segments including travel. There is no change to any of the estimates or guidance provided in that update, and the Group's capital position remains robust.\n \n \n \n \n \n \n \n \n ENDS\n \n \n \n \n \n \n \n \n For further information:\n \n \n \n \n \n Hiscox Ltd\n \n \n Marc Wetherhill, Group Company Secretary, Bermuda +1 441 278 8321\n \n \n Kylie O'Connor, Group Communications Director, London +44 (0)20 7448 6656 \n \n \n Ryan Thompson, Investor Relations Manager, London +44 (0)20 7448 6522\n \n \n \n Brunswick\n \n \n Tom Burns +44 (0)20 7404 5959\n \n \n Simone Selzer +44 (0)20 7404 5959\n \n \n \n \n \n \n \n \n Notes to editors\n \n \n Hiscox response to COVID-19\n \n \n Hiscox is committed to supporting the international response to this pandemic. The Group has over 95% of employees around the world working from home, and is supporting them through flexible working and the provision of mental health and wellbeing services. Wherever possible operations have been reorganised to deploy more employees to provide customer support. The Group has committed to stand by existing employees by retaining all current roles on full pay until at least the end of the year. Hiscox is not furloughing any staff, and has ...