Business Interruption High Court Test Case Consultation

The FCA (Financial Conduct Authority) made an announcement on 15 May, which invited individual policyholders, who have been refused claims in relation to COVID-19 business interruption, to make submissions direct to the FCA by Wednesday 20 May. For reference the statement can be viewed here https://www.fca.org.uk/news/statements/business-interruption-insurance-during-coronavirus.

Marsh (our parent company) has provided a submission to the FCA in support of policyholders advancing claims principally under non-damage BI extensions i.e. notifiable disease and/ or prevention of access. The submission included a range of issues that are relevant to most clients’ claims as well as a number of specific wordings. Given the number of policy wordings already submitted to the FCA through the insurer consultation and most likely through the intermediary and policyholder consultation, we deliberately chose a select number of policies that either impacted large numbers of clients, had wide impact to many other clients due to commonality of issues or contained different and specific wordings which we believe it would be helpful for policyholders to be included. There is of course no guarantee that the FCA will include these wordings within the select number of wordings they take forward in their test case, but we have advocated strongly for their inclusion.

We advocate for our clients, and always work to achieve the best possible solutions and outcomes. We will continue to engage with the FCA process as it develops.

 

Please note we are unable to quote for Takeaway Delivery Drivers or Couriers

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