Do you have evidence of Covid-19 BI claim disputes with insurers? Submit to the FCA by Wednesday 20 May.
On 1st May, the FCA stated that it intended to obtain court declarations aimed at resolving contractual uncertainty in business interruption (BI) policies, where there is a dispute over whether or not a policy should respond in respect of loss of revenue caused by the coronavirus pandemic.
The regulator has released a statement inviting any insurance intermediary who is aware of unresolved disputes over such coverage with insurers to put forward:
- your arguments why you consider cover should be available, together with details of policies that you consider have not responded appropriately to a claim and
- brief relevant facts of the case
They will then take such concerns into account in the test case.
All information received by the FCA in this regard will be kept confidential and they will not be entitled to reveal the detail to a third party or the court.
The closing date for responses is Wednesday 20 May 2020. Evidence should be emailed to biinsurancetestcase@fca.org.uk.
@TouchstoneUw
@touchstone-underwriting-limited
@touchstoneuw