Covid-19: FCA bares teeth as BI dispute hots up
Regulator seeks court action to resolve uncertainty on business interruption cover and bring clarity on specific policy clauses.
The Financial Conduct Authority (FCA) is seeking legal clarity on business interruption (BI) insurance with the aim to resolve doubt for businesses who are facing uncertainty on their claims.
The watchdog stated that it intends to seek a court declaration, on an agreed and urgent basis, to resolve uncertainty for many customers making BI claims, and the basis on which firms are making decisions to accept claims.
Court
It detailed that it is seeking to bring what it believes are the key
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