Insurers are submitting data to the FCA, which is tracking progress business interruption policies "capable" of responding to COVID-19 losses. (Photo: pitchr/Shutterstock)
Earlier this year, the U.K. Supreme Court ruled in favor of policyholders in a test case brought on by the Financial Conduct Authority (FCA) that disputed business interruption insurance coverage for COVID-19-related losses suffered by thousands of U.K. businesses.
In an update published Sept. 15, the FCA announced that 27,248 out of 42,308 businesses that had COVID business interruption claims accepted by their insurers had received at least an interim payout, totaling more than one billion pounds ($1.4 billion).
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