Category: Business Interruption

FCA BI insurance test case: case management conference on 26 June highlights the difficulties in determining the issues and raises the prospect of a second trial

On 26 June, there was a further case management conference (CMC) in the FCA’s COVID-19 BI insurance test case. The CMC was before Lord Justice Flaux and Mr Justice Butcher. These two judges will sit together to hear the trial. The court dealt with a number of issues regarding the […]

FCA BI Insurance Test Cases: Case Management Conference Highlights the Challenges Facing the Court and the Parties

A case management conference (CMC) before Mr Justice Butcher was held on 16 June to deal with a number of procedural matters in relation to the future conduct of the Financial Conduct Authority’s COVID-19 business interruption insurance test case.

FCA Update on Business Interruption Insurance Test Case

The Financial Conduct Authority has provided an update on progress regarding its proposed court action to resolve uncertainties about business interruption policies. The update provides an initial list of the representative sample of policy wordings that will be examined in the action. 17 policy wordings have been selected so far, […]

FCA Publishes Statement About Policyholder Engagement for BI Test Cases

On 15 May 2020, the Financial Conduct Authority issued a statement setting out how it is engaging with policyholders and insurance intermediaries on business interruption insurance. The FCA said a large number of BI claims are being made and referred to widespread concern about the response of some insurers. On […]

FCA Announces It Will Commence Proceedings to Seek Clarity Over BI COVID-19 Coverage

On 1 May 2020, the Financial Conduct Authority, the UK’s conduct regulator for general insurers, published a statement announcing that it intends to take a representative sample of cases to court as soon as possible to resolve contractual uncertainty in business interruption cover for SMEs. The FCA refers to continuing […]

Business Interruption Cover and the Coronavirus

The UK government announced yesterday that its current measures relating to the use of public spaces such as bars and restaurants would be sufficient to trigger some business interruption policies, with the Chancellor of the Exchequer, Rishi Sunak stating, “Let me confirm that, for those businesses which do have a […]

Your Insurance Checklist for Coronavirus Losses

With the constantly changing landscape and the obvious need for us all to prioritize the health and well-being of our employees, clients and business partners, it can be difficult to focus on the next steps businesses need to take to protect themselves. Cooley recently published two blog posts on the […]