On Friday, the Supreme Court handed down their judgment on the High Court test case brought by the Financial Conduct Authority (FCA), regarding business interruption insurance claims and COVID-19.
The case involved the policy wordings of six insurers, and in a number of respects the court found in favour of the FCA. The judgment is binding on the six insurers, and insurers with similar wordings will be required to interpret their wordings in light of the ruling.