Written by Ebony Ezekwesili

The FCA recently updated its webpage on its business interruption (BI) insurance test case, publishing the High Court declarations (dated 2 October 2020) made in the test case.

The FCA states that the declarations are the culmination of the test case judgment (FCA v Arch Insurance (UK) Ltd and others [2020] EWHC 2448 (Comm)), and declare how, and to what extent, the policies in the representative sample respond to BI losses arising from the COVID-19 pandemic.

 The FCA expects to publish shortly a guide on the declarations for policyholders, who are encouraged to speak to their insurance intermediaries and/or advisers in the first instance if they have any questions arising from the declarations.