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SMEs not adequately insured: Watchdog

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A review by the U.K. Financial Conduct Authority has found that small and medium-sized enterprises are often not adequately insured in the country, reports Reuters.

It also said that claims are not always managed efficiently in the interests of the SMEs. "Numerous examples of poor practice in the handling of claims" has been revealed, said the FCA. "We expect all firms to carefully analyze the findings of the review and make any necessary changes to their approach to ensure that SME claimants are treated fairly," said an official at FCA.

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