FCA versus insurers as test case showdown begins
It was confirmed up to 370,000 policyholders may be affected by the test case which aims to decide on the validity of business interruption cover during the coronavirus outbreak.
The Financial Conduct Authority (FCA) has argued that measures implemented by the UK government as it responded to coronavirus amounted to nationwide action in its submission to the court as the business interruption trial commenced today.
Colin Edelman QC, representing the FCA, chided the defendants for the volume of documents (850 pages plus) they submitted to court.
He insisted that just because the FCA team does not specifically refer to all points in its arguments against the insurers’
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