Insurance has not provided the support organisations need for their business interruption throughout the coronavirus pandemic, something the EU should help address to avert future crises, according to the Federation of European Risk Management Associations.

Just 24 hours remain for insurers to consider regulatory guidance and, where appropriate, apply COVID-19 related refunds or discounts on insurance policies. Accountancy firm, BDO says this important review will require due, thoughtful and documented decision-making, supported by actuarial analysis.

With just one month to go until the end of the transition period, the Financial Conduct Authority has warned firms that it expects them to ensure the right outcomes for their customers, and provide timely communications to enable them to make appropriate decisions.

Sungard Availability Services has launched a new dedicated workplace recovery service.

Invoice insurance intermediary Nimbla estimates that invoices worth around £250m will remain unpaid following the collapse of retailer Arcadia Group. Flemming Bengtsen, CEO at Nimbla, said the Coronavirus Business Interruption Loan Scheme and the Bounce Back Loan Scheme had given a lifeline to many SMEs, but had also created a wave of companies that were highly vulnerable.

A lack of IT expertise within SMEs, along with a reduction in investment in cyber resilience have led to a significant increase in cyber security risk and vulnerabilities, according to a poll conducted by Infosecurity Europe. This year’s COVID-related surge in remote workers was found to be the second most significant stumbling block for smaller businesses, according to the security event’s Twitter poll.