FCA launches business interruption test case

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The Financial Conduct Authority (FCA) has filed its business interruption test case in the High Court of Justice, with up to 10 days of hearings expected to commence in the second half of July.

A case management conference is tentatively scheduled for 16 June, when the High Court will fix the timetable for the case and other procedural matters.

According to the FCA’s provisional timeline, selected business interruption insurers will file their defences by 23 June, another case management conference will be held on 26 June, and the regulator will file a reply on 3 July.

Skeleton arguments and replies will be served in the first half of July, before a five to 10 day court hearing is held in the second half of the month.

The FCA filed the test case against Hiscox, Arch Insurance UK, Argenta Syndicate Management, Ecclesiastical Insurance, MS Amlin Underwriting, QBE UK, RSA and Zurich, after identifying their business interruption policy wordings as capturing the majority of the key issues that could be at dispute in the legal proceedings brought in response to rejections of coronavirus (Covid-19) claims.

Colin Edelman QC, Leigh-Ann Mulcahy QC, Richard Coleman QC and Herbert Smith Freehills are serving as counsel to the FCA.

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Mark Dugdale is the editor of Claims Media. Mark welcomes articles, letters or feedback from readers and can be reached via mark.dugdale@barkerbrooks.co.uk