Marsh bites back as RSA alleges it is on the hook for wording in FCA BI test case
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
Insurers hit back at claims they were liable to pay out on BI policies in defense documents filed on Tuesday 23 June, all arguing that policies were never meant to pay out for global events.
Arguing on behalf of policyholders, the FCA has said if necessary it will rely on the contra proferentem argument, also known as ‘interpretation against the draftsman’, which it says means the defendants’ subjective intentions are “neither relevant or admissible”.
RSA has four wordings under scrutiny
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