It looks like the Financial Conduct Authority’s coronavirus-related business interruption test case won’t be as dragged out as many feared.
As reported by Insurance Business, Arch Insurance (UK) Ltd, Argenta Syndicate Management Ltd, MS Amlin Underwriting Ltd, Hiscox Insurance Company Ltd, QBE UK Ltd, and Royal & Sun Alliance Insurance Plc were granted leapfrog certificates earlier this month – meaning they could skip the Court of Appeal and apply straight to the Supreme Court to challenge the High Court’s September 15 ruling.
Now legal documents cited by a Reuters report show that the insurers will no longer contest the verdict as it relates to the Resilience, Eaton Gate Retail, and Eaton Gate Pubs & Restaurants policies.
However, the same can’t be said about the Cottagesure and Eaton Gate Commercial Combined policies. The judgement on those remains subject to a Supreme Court appeal.
Meanwhile, as previously highlighted, Ecclesiastical Insurance Office Plc and Zurich Insurance Plc are not getting involved in the appeals process as their policy wordings were not found to provide business interruption cover against losses arising from the COVID-19 pandemic.