FCA updates webpage on business interruption insurance test case

Written by Ebony Ezekwesili

The FCA recently updated its webpage on its business interruption (BI) insurance test case, publishing the High Court declarations (dated 2 October 2020) made in the test case.

The FCA states that the declarations are the culmination of the test case judgment (FCA v Arch Insurance (UK) Ltd and others [2020] EWHC 2448 (Comm)), and declare how, and to what extent, the policies in the representative sample respond to BI losses arising from the COVID-19 pandemic.

 The FCA expects to publish shortly a guide on the declarations for policyholders, who are encouraged to speak to their insurance intermediaries and/or advisers in the first instance if they have any questions arising from the declarations.