Business Interruption (BI) insurance cases have been very prominent during the lockdown period caused by COVID-19.
The wordings used by insurers vary, and in some cases interpretation or intention is under great scrutiny. In an effort to seek legal clarity the FCA is taking a case to court with a sample of wordings. Announced on the 1st May, the FCA has reviewed over 500 relevant wordings from insurers.
It is expected that the case will reach court for a 5-10 day hearing in the second half of July 2020.
To read the full update and review wordings, underwritten by 16 insurers, being used as part of the test case please use the link below.