The United Kingdom High Court of Justice handed down judgment on 15 September 2020 in the COVID-19 business interruption insurance test case brought by the UK’s Financial Conduct Authority (the “FCA”). The judgment has been subject to much media hype with headlines announcing great victory for insureds, while insurers have seemingly lost the business interruption coverage battle. However, the judgment is lengthy, technical and can hardly be summed up by a media headline.
The following article from Fasken Martineau DuMoulin LLP provides a very helpful summary of the what the judgment really means from both a UK insurance industry perspective and possible local impacts.
Fasken Martineau DuMoulin LLP originally published this analysis on their web site.