UK Supreme Court judgement disappoints insurers, as CII warns of 'huge ramifications' for industry

15-01-2021

UK Supreme Court judgement disappoints insurers, as CII warns of 'huge ramifications' for industry

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After ten months of uncertainty the UK Supreme Court has delivered its final verdict that insurers must pay out billions in business interruption (BI) claims to companies forced to close during the COVID-19 pandemic lockdown, ruling in favour of the Financial Conduct Authority (FCA) in a landmark case. Insurers and industry bodies have shared their reactions to the judgement with some warning that it could have "huge ramifications" for insurance beyond BI.


UK, Supreme Court, FCA, Business Interruption, Test case, COVID-19, Claims, Insurance, Hiscox, CII, LIIBA, UK

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