The FCA will look at 17 policy wordings from the eight different insurers and ask whether COVID-19 triggers a payout. (Credit: Shutterstock)
Financial regulators in the United Kingdom are set to begin a test case on behalf of thousands of businesses that claim they should have been paid by insurers to cover closures during the coronavirus pandemic.
The Financial Conduct Authority's (FCA) business interruption case began on July 20 and will take place over a span of eight days. The insurers involved in the case include Arch Insurance Limited, Argenta Syndicate Management Limited, Ecclesiastical Insurance Office Plc, Hiscox Insurance Company Limited, MS Underwriting Limited, QBE UK Limited, Royal & Sun Alliance Insurance Plc and Zurich Insurance plc.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
