Article Tag: FCA

FCA Business Insurance Test Case Verdict Announced

Man signing business interruption insurance application form

On 15th September 2020, the FCA announced that it had been largely successful in its legal challenge brought against a number of insurers and their decisions to refuse coverage to small businesses claiming for COVID-19 related losses under their business interruption (BI) policies. Business Insurance Test Case Verdict Within the test case, the court considered… Read more »

COVID-19: Insurers Challenged in Business Interruption Insurance Test Case

The pandemic has revealed that a large proportion of UK SME’s standard Business Interruption Insurance Policies (‘BI Policies’) do not provide cover for business interruptions caused by Covid-19. Typically, these policies  only cover losses arising from property damage, leaving a significant number of SMEs inadequately insured. However, even where a BI Policy states that it… Read more »