Insurance Test Case Uk
It has now selected 17 examples from business interruption insurance policies used by 16 insurers eight of whom were asked to take part in the court case.
Insurance test case uk. A test case brought by the financial conduct authority fca is examining the wording of policies on business interruption cover. Day 5 as it happened 2020 07 27t08 58 00 follow our live updates to keep abreast of the latest developments coming from the high court. 3 jul 2020 holidaymakers offered little or no coronavirus related insurance.
The other insurers named in the test. Today marks the beginning of the trial in the financial conduct authority s fca business interruption test case against arch insurance uk limited argenta syndicate management limited. We report on the latest from the high court this site like many others uses small files called cookies to ensure that we give you the best experience on our website.
An insurance intermediary as defined in the fca s handbook which carried out insurance distribution activities in respect of a relevant non damage business interruption policy before the date that the test case began but only the paragraphs of this guidance which specifically refer to insurance intermediaries under the heading. Arch insurance uk limited. As many as 370 000 policyholders could be affected by the result.
Zurich insurance plc part of zurich insurance group limited the wordings that they use are set out in this list. A test case brought by the fca against eight insurers could have significant consequences for insurers brokers and policyholders. Following the process described above we have asked the following insurers who underwrite policies in the representative sample to assist us by participating in the high court test case.
The eight insurers making legal submissions to the high court include ecclesiastical insurance the largest church insurer through its parish plus. Fca business interruption test case.
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