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FCA test case result will be of ‘crucial significance’ says law firm partner

By 2020-09-14T06:40:00

gavel

The verdict, which is to be announced tomorrow, will also ‘provide persuasive authority in a number of common law jurisdictions’

The verdict of the unprecedented test case launched by the FCA around the meaning of non-damage business interruption (BI) policy wordings in relation to claims caused by the Covid-19 pandemic will be of “crucial significance”, said James Whitaker, partner at international law firm Mayer Brown.

Tomorrow (15 September), Lord Justice Flaux and Mr Justice Butcher are expected to confirm their verdict on the clarity and interpretation of BI policy wordings, based on a sample of 17 policies from eight different insurers, including Arch Insurance, Argenta Syndicate Management, Ecclesiastical Insurance Office, Hiscox Insurance Company, MS Amlin Underwriting, QBE UK, Royal and Sun Alliance Insurance (RSA) and Zurich Insurance.

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