Business Interruption claims

There is a significant amount of discussion happening within insurers and the regulator regarding Business Interruption claims, to achieve a clear way to handle the majority of contested claims. As you may be aware the FCA are asking for a court ruling on certain definitions so insurers have to consider a claim in a standardised way, a test case. Although this may not result in all claims being accepted, we hope it will provide a greater level of clarity and certainty around claims positions. The following link leads to the FCA page dedicated to this and is updated regularly. The main insurer for our policies, ARCH Insurance (UK), are taking part in this test case.

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

Our current understanding of this test case is that it will follow the following format:

  • 9 June – FCA started claim in the High Court
  • 16 June – Case management conference, at which he court fixed the timetable for the case and other procedural matters
  • 23 June – Insurers filed Defences
  • 26 June – Further case management conference, at which the court dealt with outstanding procedural matters
  • 3 July – FCA filed Reply
  • 10 July – FCA and Intervenors’ skeleton arguments served
  • 14 July – Defendants’ skeleton arguments served
  • 20-23 July and 27-30 July – 8 day court hearing before Lord Justice Flaux and Mr Justice Butcher

Our understanding from previous FCA communications is that if your claim or complaint could be affected by the test case then the insurer for your policy should be in contact to advise you. We are of course here to help where we can and provide assistance in this difficult time.

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