FCA spent almost £7m on BI court case

rising-costs

Last year, the insurance industry and business owners were gripped by the court case brought by the Financial Conduct Authority (FCA) to decide whether or not business interruption payments should be made to policyholders forced to shutdown due to coronavirus.

The FCA, which brought the case on behalf of policyholders, has confirmed to Insurance Age that its spending hit £6.9m between 31 March 2020 and 31 March 2021.

Following a Freedom of Information request, the watchdog stated: “We have

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