Blog: The issues under contention in the FCA's BI test case
The Covid-19 pandemic has caused devastating losses for many businesses, with SMEs in the retail and hospitality sector being particularly hard hit. The extent to which these losses fall to be covered by business interruption insurance policies is the subject of the test case brought by the Financial Conduct Authority, in what may turn out to be one of the most significant, and consequential, insurance cases in many years, considers Mayer Brown senior associate Alys Jones.
The court’s decision will be handed down this week.
The outcome of the case will be of crucial significance: the decision is expected to impact 370,000 businesses with non-damage BI policies. While
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