News

COVID-19 Business Interruption Update: FCA Invites Policyholder Submissions

Further to its announcement on 1 May that it intended to seek a declaratory court ruling on common coverage issues arising in relation to COVID-19 business interruption claims, the FCA has now invited submissions from policyholders and intermediaries who would like their insurer to be considered for inclusion in the process.

https://www.fca.org.uk/news/statements/business-interruption-insurance-during-coronavirus

Policyholders and intermediaries are invited to submit:

• arguments why they consider cover should be available, together with details of policies that they consider have not responded appropriately to a claim; and

• brief relevant facts of the case.

Any material for consideration is to be emailed to biinsurancetestcase@fca.org.uk by Wednesday 20 May 2020.

The FCA has committed to engaging openly with policyholders and their representatives at key stages of the process, and a dedicated web page has also been set up to provide information, updates and access to documents including court pleadings:

https://www.fca.org.uk/firms/business-interruption-insurance

For further information contact aaron.lemarquer@fenchurchlaw.co.uk