Home / Financial Services / Regulation of insurance / General matters relating to insurance regulation

Legal News

FCA finalised guidance on the coronavirus (COVID-19) business interruption insurance test case

Copyright © 2025 LexisNexis

Published on: 23 June 2020

Published by a LexisNexis Financial Services expert

Table of contents

Original news
SME business interruption insurance and coronavirus
The FCA’s business interruption test case
FCA business interruption finalised guidance—three key workstreams for insurers
FCA business interruption Feedback Statement FS20/8
What the business interruption FCA test case means in practice for relevant insurers?
Review of BI policy wordings
Review of all claims/complaints relating to relevant BI wording
Review of rejected/reduced potentially affected claim/complaints
Other key considerations for affected insurers

More sections of this document available when you sign-in to Lexis+ or register for a free trial.

Article summary

Financial Services analysis: Partners Alison McHaffie and Tristan Hall, Of Counsel Neil Beighton and Senior Associate Sarah Brook of CMS, analyse the finalised guidance of the Financial Conduct Authority’s (FCA’s) expectations for insurers and insurance intermediaries in relation to its High Court test case on business interruption (BI) insurance policies and whether losses caused by coronavirus (COVID-19) are covered.

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

If a rentcharge is shown as being informally exonerated on title information, does this apply to the

If a rentcharge is shown as being informally exonerated on title information, does this apply to the current registered owner? Or does the informal exoneration only apply to the parties to the document which informally exonerated the rentcharge?This Q&A considers the situation where, at some

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

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application