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On 15 January 2021, the United Kingdom Supreme Court delivered its judgment on the appeals in the Business Interruption Insurance (BII) test cases between the UK’s Financial Conduct Authority and eight UK insurance companies....more
On 15 January 2021, the Supreme Court handed down its judgment in The Financial Conduct Authority v Arch and Others. Our alert of 19 January 2021 considered the implications of the judgment for policyholders seeking to claim...more
COVID-19: FCA update on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case....more
On 15 February 2021 the FCA released the draft “declarations” that the parties are asking the Supreme Court to make following its judgment in January. The declarations are intended to neatly capture the decisions of the...more
The UK Supreme Court in the Financial Conduct Authority’s business interruption test case has overturned a decade-long standing judgment relating to causation and how the “trends” clauses should be interpreted....more
On 15 January 2021 the UK Supreme Court handed down its highly anticipated judgment in the FCA Test Case. The COVID-19 pandemic has forced the UK Government to introduce public health measures which have resulted in...more
In a recent opinion, the UK Supreme Court has found coverage for business interruption as a result of business closures incident to the Covid-19 pandemic. While some may see that decision as support for coverage suits in the...more
This LawFlash provides a summary of the UK Supreme Court’s final decision in the FCA Business Interruption test case. The judgment is more policyholder friendly than the High Court judgment, particularly in relation to...more
The Supreme Court has dismissed insurers’ appeals and substantially allowed the FCA’s appeal in the conclusion of the FCA test case litigation. The result means significantly greater coverage of claims and the focus will now...more
BACKGROUND TO THE TEST CASE - Following a four day hearing in November 2020, the UK Supreme Court has handed down the appeal judgment in the test case brought by the Financial Conduct Authority (FCA) on behalf of UK based...more
The Supreme Court has delivered its judgment today in the landmark business interruption insurance test case brought by the Financial Conduct Authority (“FCA”). The ruling is important for business interruption policy...more
For many UK businesses with business interruption (“BI”) insurance policies, a high priority this autumn was keeping up with a rapidly changing regime of coronavirus-related restrictions – changes which last week culminated...more
COVID-19: FCA updates webpage on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case, publishing a draft transcript of the...more
This LawFlash provides a summary of the judgment of Lord Justice Flaux and Mr. Justice Butcher as it relates to the determination of the prevalence of coronavirus (COVID-19) under a particular policy. The court was somewhat...more
COVID-19: Judgment in FCA's business interruption insurance test case - The High Court has handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2020] EWHC 2448 (Comm) (15 September 2020), the test case...more
The eagerly anticipated judgment of Lord Justice Flaux and Mr. Justice Butcher in the Financial Conduct Authority’s (FCA’s) test case in relation to cover afforded under various business interruption wordings has now been...more
This week the High Court has delivered its eagerly anticipated ruling in the FCA Business Interruption Test Case. The case was brought by the Financial Conduct Authority on behalf of business interruption policyholders, with...more
The High Court has delivered its eagerly anticipated ruling in the FCA test case litigation concerning COVID-19 business interruption claims. The judgment is complex, addressing cover for COVID-19 related claims under 21...more
On 17 March 2020, in announcing an “unprecedented” range of measures designed to support businesses through the COVID-19 pandemic, the UK Chancellor of the Exchequer, Rishi Sunak, said that “for those businesses which do have...more
COVID-19: FCA FS20/7 and final guidance on assessing value of insurance products - Following consultation, on 3 June 2020, the UK Financial Conduct Authority (FCA) published a feedback statement, FS20/7, and final guidance...more
Through the High Court test case, the UK Financial Conduct authority hopes to obtain legal clarity on business interruption insurance during the coronavirus (COVID-19) pandemic. ...more
In light of recent events, many insurers will be re-considering their product offerings and/or adjusting policy wordings. This article sets out key considerations from a regulatory and contractual perspective that will be...more
Insurers and business interruption insurance policies have been coming under increasing scrutiny as a result of the economic disruption to business as a result of Covid-19. ...more
On 20 June 2017, the Financial Conduct Authority (“FCA“) published a Call for Input inviting firms (amongst other stakeholders) to submit their views on the challenges they face in providing travel insurance to consumers who...more