- A review of the position six months on from the Supreme Court’s decision in the FCA Business Interruption Insurance Test Case (FCA v Arch)
- Assessing progress by reference to claims data
- Declarations from the Supreme Court
- Removing obstacles to the progression of BI claims
- The Financial Ombudsman Services’ (FOS) role in the progression of BI claims
- Six months on—where are we now?
Insurance & Reinsurance analysis: The much anticipated Supreme Court judgment determining the various appeals in the Test Case was handed down on 15 January 2021. From the Financial Conduct Authority’s (FCA) perspective, the decision provided insurers and policyholders with answers to the key questions on policy coverage for a wide variety of non-damage business interruption (BI) insurance extensions so that valid claims, from that point, could and should be settled quickly. Alex Marler, partner, Pamela Freeland, principal associate and Sarah Irwin, solicitor at Weightmans LLP consider the present position of BI insurance claims and the Supreme Court declarations (the Declarations).
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