BIBA has been in contact with HM Treasury regarding the recently published list of ‘key workers’ who may continue to send their children to school. The list makes reference to financial services, but not directly to insurance. Brokers are a key part of the distribution chain in arranging cover, not least statuary covers such as Employers’ Liability and motor insurance and we have made representations to that effect because part of these functions cannot be undertaken if working from home.
We have been told that HM Treasury is working with both the FCA and PRA to clarify what roles are included within key worker categorisation as expects that the regulator will contact firms “ASAP”.
We will communicate with member further once clarification has been made on this matter.