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UK regulator announces date for BI test case judgment

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The Financial Conduct Authority (FCA) says the judgment on the UK’s COVID-19 business interruption test case will be handed down next week.

The hotly anticipated judgment will be published on the FCA’s website on September 15, less than three weeks before the Australian case is set to start.

However, it is not expected to have much bearing on the local case which includes focus on a specific issue not relevant to the UK market.

The UK High Court hearings were held over eight days in July, ending with submissions made by the FCA, Hospitality Insurance Group Action, Hiscox Action Group and eight insurers who agreed to be part of the case.

The insurers involved are Arch, Argenta Syndicate Management, Ecclesiastical Insurance Office, Hiscox, MS Amlin, QBE, Royal & SunAlliance and Zurich.

The court will also decide whether an appeal will be allowed.

As previously reported, the Australian test case will be heard by the NSW Court of Appeal on October 2. insuranceNEWS.com.au understands that only one day has been set aside for the hearing.

Court documents obtained by insuranceNEWS.com.au have outlined the claim pathways and policy wordings that will be considered.