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Customer Update: Covid-19 and FCA Business Interruption Cover Test Case – Supreme Court Appeal (Judgment)
As you may have seen in the national press, on 15th January 2021 the Supreme Court handed down its ruling on the test case brought by the Financial Conduct Authority (FCA).
Below is a summary of the key findings providing you with context in relation to the judgment.
It is important to note that not all business interruption insurance policies will provide cover in respect of the Covid-19 pandemic. Most notably the majority of business insurance policies, which ordinarily require an element of “physical” damage before cover will apply, do not.
If you are unsure whether or not your policy is affected by the outcome of the test case please do not hesitate to contact us on 01524 848506 and we will be more than happy to answer any questions you may have.
The Insurance Centre