Home / Insurance & Reinsurance / Key developments / Coronavirus (COVID-19) business interruption insurance

Legal News

FCA business interruption test case—unrepresented policies

Copyright © 2025 LexisNexis

Published on: 14 December 2020

Published by a LexisNexis Insurance & Reinsurance expert

Table of contents

Traditional business interruption policies
Unrepresented non-damage extensions
Insurers’ response
Construction and causation
Insured perils and relevant policy areas
Local only policies
Weighing it up

Article summary

Insurance & Reinsurance analysis: The Financial Conduct Authority (FCA) business interruption insurance test case was instigated and heard with remarkable dispatch. The judgment, running to over 160 pages, was issued on 15 September 2020. It was widely hailed as a victory for policyholders, but the reality is more nuanced because of the myriad differences between policy wordings—both within and outside the representative sample of policy wordings that were considered in the test case.

Popular documents

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an

Template for regulatory references given by SMCR firms and disclosure requirements

Template for regulatory references given by SMCR firms and disclosure requirements[Insert addressee details]Dear [insert name][It is our understanding that [insert name of prospective employee] [was an employee of yours between the dates of [insert dates as appropriate] OR is a current employee of