Insurers lock horns with FCA in BI test case defences
Brokers brought into fray as providers file a variety of defences including proximate cause and the ‘Sweden defence’ in the landmark case to determine the validity of BI claims arising from the coronavirus pandemic.
Insurers have fought back against the FCA in the business interruption test case using a variety of defences including proximate cause, arguing that businesses were technically allowed to remain open, and saying that policies were not intended to pay out for pandemic cover.
A number of insurers also turned on brokers arguing that it was their job to advise their clients to purchase the right sort of policy.
In addition the providers also suggested that the contra proferentem rule will not be
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