Hi, it’s Deborah and Euzi
Eight UK insurers in the Financial Conduct Authority’s (FCA’s) business interruption test case were accused of misapplying legal principles to ward off the prospect of payouts to businesses that have suffered financial losses due to coronavirus (COVID-19). The eight insurance defendants in the financial-markets regulator’s ongoing High Court test case are incorrectly applying a ‘but for’ test and they have argued that their business-interruption insurance shouldn’t be triggered by government-mandated business closures.
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