News Judgment Handed Down in FCA’s Business Interruption Insurance Test Case

The High Court has ruled in favour of policyholders in the business interruption insurance test case brought by the FCA.

“A landmark decision has been handed down by the High Court today in favour of policyholders in the Financial Conduct Authority’s (FCA) business interruption test case.

The FCA brought the case on behalf of policyholders against eight insurers to try to resolve the lack of clarity in business interruption claims due to Covid-19.

The decision considers 21 different policy wordings and could help hospitality businesses making claims under business interruption insurance.

The insurers are reportedly considering the judgment and what it might mean, and ultimately whether to pursue an appeal.

The FCA’s comments on the decision can be found here"