FCA labels insurers’ arguments as ‘far-fetched’ in Supreme Court hearing

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However, insurers claim that there ‘is no justification for engineering contractual wording to accommodate unique circumstances which have occurred subsequently’

For the first time in its short history last week, the Supreme Court considered the details of business interruption (BI) insurance.

The trigger for the four-day virtual hearing was the swathe of appeals mounted against the High Court’s ruling in September on the landmark BI test case brought by the FCA.

“Probably the most important insurance decision of the last decade and a decision of substantial importance to many thousands of businesses” is how the FCA billed the High Court’s judgement in the documents outlining its case for last week’s hearing.

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