Insurers ordered to cut administration delays on bereavement claims

Life insurers have been instructed to speed up their handling of bereavement cases after FCA research found poor outcomes in a market of 250,000 claims per year.

By Neasa MacErlean

Insurers appear to be averaging between 53 and 122 days to process term insurance policies - although "measurement is inconsistent as few firms captured these figures", according to a research report from the regulator.