FCA publishes “presence of Covid” guidance

FCA has finalised and published its guidance on proving the presence of Covid-19. The guidance builds on the High Court and Supreme Court judgments in the FCA’s business interruption insurance test case, and sets out FCA’s views on how it things insurers should be interpreting certain aspects of their policy wording.  The guidance took effect on 3 March and will expire on 31 January 2022. FCA stresses that the guidance represents its view and will not prevent policyholders from using other sources of evidence or putting forward their own arguments.

Additionally, FCA will be publishing a Covid-19 calculator to help policyholders carry out calculations within the guidance.

Emma Radmore