FCA called out as ‘shining example of regulatory intervention’ for test case action


Despite being celebrated as a policyholder victory, many legal professionals feel this reaction to the test case verdict could be ‘premature’ as the likelihood of an appeal from insurers still looms large

Legal professionals are applauding the FCA’s prompt response to the conflict between insurers and policyholders surrounding Covid-19-related business interruption (BI) claims as the High Court yesterday published its verdict on the eight-day test case that sought to clarify non-damage BI policy wordings and their interpretation.

For example, Michael Frisby, dispute resolution partner at Stevens and Bolton, described the regulator and its unprecedented High Court test case as a “a shining example of regulatory intervention, addressing key legal issues in a divided market”.

Read more…

(If you’re already a subscriber, please sign in here.)

Get access with a 14-day free trial

This article is usually available exclusively to subscribers.

Subscribe for full access - Take out a print and online or online only subscription

For a limited period, you can enjoy all the benefits of an online subscription free for 14 days. Sign up now to read this article in full and to enjoy unlimited access to premium online content, a digital edition of the latest issue, plus an online archive of back issues.

Also, as a registered user, you will be able to -

  • Access unlimited breaking industry news as it happens
  • Sign up to a choice of daily and weekly newsletters

Register to view free premium content