FCA Business Interruption Test Case
In order to provide legal clarity around the cover available in relation to non-damage business interruption policies the FCA has adopted the position of the policyholder in a test case which will review a representative example of various policy wordings. The FCA started proceedings on the 10th June and the first hearing is scheduled to start on the 20th July.
Policyholders who have made a claim for business interruption arising out of the Covid-19 pandemic need take no action and will receive further communication from us, no later than 15th July, to confirm whether or not their claim may be affected by the final resolution of the test case.
We will issue further updates as required by the FCA as the test case progresses.
Please find below a link to the FCA website where further details can be found - https://www.fca.org.uk/firms/business-interruption-insurance
Please find below a link to the Financial Ombudsman website – https://www.financial-ombudsman.org.uk/coronavirus
Policyholders may wish to subscribe for email updates from the FCA on the FCA webpage for the test case updates - https://www.fca.org.uk/sign-business-interruption-bi-insurance-email-updates