Insurers haul brokers into FCA BI case again
A joint skeleton argument attacks the FCA’s stance that SME customers are not sophisticated insurance buyers because they used brokers and slams Contra Proferentem as “restrictive” and “out of step”.
Brokers have once again been dragged into the vicious debate between insurers and policyholders over coronavirus business interruption payments.
A joint skeleton argument by the counsels of defendants Arch, Argenta, Ecclesiastical, Hiscox, MS Amlin, QBE, RSA and Zurich examined how the construction of contracts affects the current test case.
In the document the insurers legal team argued that “the FCA contends these policies were addressed to “SME businesses of limited expertise”, with the
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