FCA publishes defences in BI test case

FCA’s latest update on its business interruption insurance test case:

  • published the sealed Court Order from the Case Management Conference on 16 June;
  • published the Defences of the defendants to the test case – Arch Insurance (UK) Ltd, Argenta Syndicate Management Ltd, Ecclesiastical Insurance Office plc and MS Amlin Underwriting Limited, Hiscox Insurance Company Ltd, QBE UK Ltd, Royal & Sun Alliance Insurance plc and Zurich Insurance plc;
  • invited comments on the defences, which will help FCA in drafting its Reply (which is due on 3 July) and skeleton argument.  FCA asks for comments by 3pm on 29 June. FCA is not looking for requests for particular policies to be added to the case, but is looking for comments that may alert it to anything inconsistent in a Defence, and wants comments specific to particular paragraphs of particular defences; and
  • notified policyholders, intermediaries and their legal advisers that they may contact FCA before 5pm on 26 June to book a time to speak with FCA’s legal team on 30 June or 1 July

Emma Radmore