Coronavirus

Supreme Court to make FCA BI judgement on 15 Jan

Zurich and Ecclesiastical were the only two insurers not to seek an appeal to the Supreme Court

The Supreme Court has announced it will make its judgement on the appeal of the Financial Conduct Authority’s (FCA) test case on business interruption insurance on Friday 15 January 2021. 

It comes after appeal hearings took place in the Supreme Court in November of last year.

The regulator had originally brought the case against various insurance groups to the High Court, including Hiscox, Zurich, Arch, RSA, Ecclesiastical, MS Amlin, Argenta, and QBE.

Earlier in the year (15 September), the court ruled that insurers should have to pay out on claims to approximately 370,000 businesses forced to close during lockdown.

Zurich and Ecclesiastical were the only two insurers not to seek an appeal to the Supreme Court.

Among the claimants were the Hiscox Action Group (HAG), comprising over 400 Hiscox insurance policyholders who intervened in the case against the firm.

The judgments handed-down on the 15 will be: 

Financial Conduct Authority (Appellant) v Arch Insurance (UK) Ltd and others (Respondents)

Hiscox Action Group (Appellant) v Financial Conduct Authority and others (Respondents)

Argenta Syndicate Management Ltd (Appellant) v Financial Conduct Authority and others (Respondents)

Royal & Sun Alliance Insurance Plc (Appellant) v Financial Conduct Authority and others (Respondents)

MS Amlin Underwriting Ltd (Appellant) v Financial Conduct Authority and others (Respondents)

Hiscox Insurance Company Ltd (Appellant) v Financial Conduct Authority and others (Respondents)

QBE UK Ltd (Appellant) v Financial Conduct Authority and others (Respondents)

Arch Insurance (UK) Ltd (Appellant) v Financial Conduct Authority and others (Respondents)

Show More
Back to top button