Insurers argue FCA victory would lead to ‘injustice’
Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.
In a joint skeleton argument, the defendants - Arch, Argenta, Ecclesiastical, Hiscox, MS Amlin, QBE, RSA and Zurich – said that their case is “an orthodox application of core principles which themselves exist to avoid unfairness”.
Defendants added: “The court should reject the FCA’s invitation to embrace what amounts to a set of heterodox, unprincipled propositions with potentially far-reaching and unpredictable results (“knock-on consequences which we are not in a position to predict or take
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