Insurers argue FCA victory would lead to ‘injustice’

High Court London

Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.

In a joint skeleton argument, the defendants - Arch, Argenta, Ecclesiastical, Hiscox, MS Amlin, QBE, RSA and Zurich – said that their case is “an orthodox application of core principles which themselves exist to avoid unfairness”.

Defendants added: “The court should reject the FCA’s invitation to embrace what amounts to a set of heterodox, unprincipled propositions with potentially far-reaching and unpredictable results (“knock-on consequences which we are not in a position to predict or take

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