FCA turns focus to policy intention in Covid-19 BI battle
The regulator's particulars of claim for the test case stated that the defendants’ reasons for wordings are not relevant or admissible.
The Financial Conduct Authority (FCA) particulars of claim (PoC) attacks the argument posed by some providers that their policies were never intended to pay out for pandemics.
In the particulars of claim for the approaching test case on the issue the watchdog argued: “The Defendants’ subjective intentions (or their reasons behind the design of the Wordings) is not relevant or admissible.”
It added: “This is particularly the case given that these policies are offered by the Defendants in a
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