FCA prepares appeal after it fails to reach agreement with insurers in BI test case
Regulator says it will continue discussions with insurers and action groups to find a solution for the outstanding issues as soon as possible.
The Financial Conduct Authority (FCA) has filed a skeleton argument with the High Court and confirmed it will apply to leapfrog an appeal to the Supreme Court in the business interruption test case.
The regulator stated it had hoped to reach an agreement yesterday (30 September) with the eight insurers involved in the case around how to interpret some “important elements” of the judgment affecting which small businesses get paid and how much.
It noted that this would have allowed for faster
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