BI test case decision is ‘conclusive judgment in favour of policyholders’
Industry expert says the verdict is ‘no surprise’, however the industry is ‘nowhere near the finishing line’ as insurers now need to reassess their business interruption policy wordings
Yesterday’s ruling on the FCA’s test case into the interpretation of non-damage business interruption (BI) policy wordings in relation to claims caused by the Covid-19 pandemic is “a conclusive judgment in favour of policyholders” that does not need “further filleting” according to Branko Bjelobaba, principal at general insurance FCA compliance consultancy Branko Ltd.
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