FCA Business Interruption Insurance Test Case Appeal Verdict

FCA Business Interruption Insurance Test Case Appeal Judgement

This morning the Supreme Court announced their final judgement on the Financial Conduct Authority’s (FCA) Business Interruption Insurance test case.

The Supreme Court dismissed insurers’ appeals against the original High Court ruling meaning that many policyholders will now have their claims for coronavirus-related business interruption losses paid. Policyholders with affected claims can expect to hear from their insurers soon.

The FCA will work with insurers so that claims processes are rapidly concluded.

A summary of the judgement is available from the FCA’s solicitors Herbert Smith Freehills LLP on their website https://hsfnotes.com/insurance/2021/01/15/supreme-court-hands-down-judgment-in-fcas-covid-19-business-interruption-test-case/

Further information is also available on the FCA’s dedicated website page https://www.fca.org.uk/firms/business-interruption-insurance