Insurers and FCA butt heads on pandemic spread analysis in BI case
Insurers’ counsel have decried the Financial Conduct Authority’s intention to use the “controversial” Cambridge analysis of Covid-19 spread in its business interruption test case, as representatives warned another trial might be needed to iron out discrepancies.
The High Court test case names eight insurers as defendants, with the FCA acting on behalf of policyholders who believe insurers should be paying out on BI policies in the claimant seat.
The case is expected to begin on 20 July, running for eight days and overseen by two judges: Commercial Court judge Mr Justice Butcher and Court of Appeal judge Lord Justice Flaux.
Mr Justice Butcher oversaw an online case management conference today (16 June), in which much of the time was spent by insurers
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