High Court finds in favour of small businesses and the FCA on majority of issues in BI case
The High Court has ruled that the majority of businesses who held business interruption insurance and were forced to close could be entitled to be compensated by the insurers.
Law firm Herbert Smith Freehills, which acted for the Financial Conduct Authority (FCA) during the proceedings, stated that the court found in favour of the FCA on the majority of the key issues, in particular in respect of coverage triggers under most disease and ‘hybrid’ clauses, certain denial of access/public authority claises, as well as causation and ‘trends’ clauses.
“The judgment therefore should bring welcome news for a significant number of the thousands of policyholders impacted by
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