Hiscox expects less than £100m of Covid-19 BI claims after court ruling
The High Court today found in favour of the FCA and policyholders on the majority of the key issues under scrutiny in the business interruption test case.
Hiscox has revealed it expects its additional Covid-19 claims arising from business interruption to be less than £100m, following the judgment reached in the Financial Conduct Authority’s (FCA) business interruption test case.
The provider detailed that this encompasses claims from all of its divisions and is a reduction of £150m from the upper end of the firm’s previously published risk scenario.
The High Court stated earlier today (15 September) that it had found in favour of the FCA and
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