UK insurers face “expensive” implications if the Supreme Court decides this Friday in favour of the Financial Conduct Authority (FCA) in the country’s Covid-19 business interruption (BI) test case.
This is the expert opinion of Chris Finney, a partner at London law firm Fox Williams.
The much-anticipated verdict on Friday follows the High Court’s judgement in the FCA BI test case on 15 September. The High Court ruled 12 out of the 21 policy types tested were found to have the potential to provide cover in response to the pandemic, and nine were not.
This article was first published in InsuranceERM, 12 January 2021. Subscribers can access the full article here.