Colin Edelman QC and Richard Harrison act for the FCA in the Covid-19 business interruption test case which was issued today
The test case aims to determine the basis for the insurance cover available for business interruption losses caused by the Covid-19 pandemic and associated government action. It is believed to be the first case ever to be brought under the Financial Markets Test Case Scheme and will test multiple forms of insurance policies issued by eight different insurers.
The test case focuses on the application of Denial of Access and Notifiable Disease extensions to pandemic related losses. The FCA hope that the judgment will give policyholders and insurers a greater understanding of which business interruption policies respond to the economic consequences of Covid-19 and how the resulting losses will be determined.
You can read more about the case on the FCA’s websiteBack to News
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