All Business interupption articles – Page 2
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News‘Nothing stopping’ resilience policy insurers paying out amid FCA test case ruling, says law firm
RSA has decided not to appeal the FCA test case ruling for its RSA4 resilience policies
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NewsFCA called out as ‘shining example of regulatory intervention’ for test case action
Legal professionals are applauding the FCA’s prompt response to the conflict between insurers and policyholders surrounding Covid-19-related business interruption (BI) claims as the High Court yesterday published its verdict on the eight-day test case that sought to clarify non-damage BI policy wordings and their interpretation.
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NewsBriefing: Customers will face more agony despite test case ruling
The FCA ruling will only help some clients and, even then, there will be arguments over payouts. The FCA ruling closes one chapter on this unedifying experience for the insurance industry. There are lessons to be learned.
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NewsLloyd’s of London backs FCA BI test case ruling
Lloyd’s of London has welcomed the FCA test case ruling as it will “bring coverage clarity for many policyholders with certain non-damage business interruption cover extensions. This is according to a statement released by Lloyd’s.
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AnalysisFCA test case is a ‘complex judgment’ that will take time to understand
Insurers have supported the High Court process over the past few months, which saw the claimant – the FCA - seek clarity for customers who have made business interruption claims related to Covid-19. The verdict was published yesterday. But it will take time to comprehend and for any appeals ...
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NewsCII urges industry to develop an approach to pandemics to avoid further test case scenarios
The professional body says that building trust across the industry is a ‘key concern’
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NewsICA launches BI test case in NSW Supreme Court
Outcome will be used to determine complaints arising from COVID-19 related business interruption claims
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