The ruling following the test case appeal at the Supreme Court will see insurers pay claims to businesses, as well as review policy wordings - but how have insurers reacted to the decision?
Last week’s ruling from the Supreme Court on the business interruption (BI) insurance test case is a ”a rude awakening for both insurers and [the] broking fraternity” as judges dismissed insurers’ appeals to favour the FCA’s arguments in support of claims payouts for businesses that have been financially affected by the coronavirus pandemic.
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