Category: Business Interruption Insurance

FCA High Court case SME advice

Update: FCA’s Business Interruption Insurance Test Case

The FCA’s test case is likely to be the quickest route to clarity on whether losses caused by Covid-19 are covered by Business Interruption insurance. Most SME insurance policies are focused on property damage (and only have basic cover for BI as a consequence of property damage) so, at least in the majority of cases, insurers are not obliged to pay out in relation to the coronavirus pandemic. This case is focused on the remainder of policies that could be argued to include cover.

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Update on Business Interruption Insurance test case

Given the complexity of business interruption claims and the legal uncertainty surrounding their enforcement (the FCA have issued a test case recently in the High Court), it is advisable that you seek expert legal advice early in order to prepare your Business Interruption Insurance claim.

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Update on FCA’s Business Interruption Insurance test case: Insurers file Defences

Given the complexity of business interruption claims and the legal uncertainty surrounding their enforcement (the FCA have issued a test case recently in the High Court), it is is essential that you seek expert legal advice early in order to prepare your Business Interruption Insurance claim.

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FCA Test Case: Are insurers obliged to pay out for Covid-19 business losses?

On 9 June 2020, the Financial Conduct Authority (FCA) filed its Claim Form and Particulars of Claim in its High Court test case on business interruption (BI) insurance policies. The court action is aimed at providing clarity and certainty for everyone involved in Business Interruption insurance disputes, policyholder and insurer alike.