Insurance Business UK

Insurance industry reacts to business interruption test case outcome

Friday’s 112-page long verdict by the Supreme Court in the UK business interruption (BI) test case appeal has got everyone talking – from insurance companies to trade bodies, as well as law firms and other industry stakeholders.

First off, the Financial Conduct Authority (FCA) stated: “The judgement brings to an end legal arguments under 14 types of policy issued by six insurers, and a substantial number of similar policies in the wider market which will now lead to claims being successful.”