Written by: Griffiths & Armour on: 17 Sep 2020
FCA’s Business Interruption test case judgment announced
The High Court has delivered its judgment in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case.
Christopher Woolard, Interim Chief Executive of the FCA, commented:
“We brought the test case in order to resolve the lack of clarity and certainty that existed for many policyholders making business interruption claims and the wider market. We are pleased that the Court has substantially found in favour of the arguments we presented on the majority of the key issues. Today’s judgment is a significant step in resolving the uncertainty being faced by policyholders. We are grateful to the court for delivering the judgment quickly and the speed with which it was reached reflects well on all parties”