Analysis

Briefing: It’s been a bad week for insurers, but lose the FCA test case and things could get a lot worse

By 2020-07-23T14:32:00

legal, court

Not only could insurers be found liable for claims, they may also be forced to pay interest and subsequent claims for businesses that have gone under as a result of the delay in business interruption payments

It’s been a bad week for insurers as the FCA’s legal team have gone about systematically taking apart their skeleton defences.

At times, the judges have also revealed some of their thoughts, saying they remain “thoroughly unconvinced” by Zurich’s defence that the government is not a “competent public authority”.

They also described insurers’ arguments around government death data not being reliable as “clutching at straws”.

And that was just day one!

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