FCA Business Interruption Insurance Test Case – Supreme Court Appeal

Overview

This comprehensive and interactive one-hour webinar will focus on the judgment of the Supreme Court following the appeal of the FCA’s ground-breaking test case at the High Court. The appeal concluded on 19 November and the judgment was handed down on 15 January 2021. Four days were spent setting out starkly differing views between the FCA and insurers.

The appeal judgment is very clear and insurers have lost. The FCA consider some 370,000 insureds have had payments denied and they battled to convince the five Justices that sense should prevail and that a composite cause has operated – covid + government regulations + the public response and insurers disputed this saying this is stretching causation too far. This case will be momentous and will set clear precedent as to the clarity of wordings and what needs to happen to ensure future cover (or lack of) is clear and understood by all parties.

At the same time it will highlight the ongoing exposure for insurance brokers all of whom will have arranged these covers for clients and encourage them to robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring they can access fairly-priced professional indemnity insurance rather than be subject to an unacceptable blanket exclusion.

Learning Objectives

• The Supreme Court judgment - Disease and Prevention of access clauses, Causation, Trends clauses, Pre-trigger losses and the Orient Express case;

• What insurers now have to do;

• Is there a threat to brokers?

This technical/legal CPD presentation is relevant to general insurance brokers/intermediaries, their insurers, and any other market participants.

Speaker Biography
Branko Bjelobaba FCII has worked for 33 years across the sector and latterly at PwC and GISC and has led his own consultancy practice for 17 years. He works closely with BIBA (and has published its compliance manual since 2004) and the CII and has provided many well-received (even entertaining!) training events throughout the UK. He is a recipient of the Thomson Reuters Compliance Personality of the Year Award and the London Market People Award for Legal and Compliance.

As a leading commentator Branko has been covered by the insurance press on 40+ occasions and had provided 103 CPD events reaching 6,323 people and the feedback has been superb:-

“Branko's webinars are certainly one of the best. He can present quite a dry and relatively boring subject with such a passion and engages his public constantly. His events have very valuable content and presentation materials are well prepared and comprehensive.”

“Branko has energy and enthusiasm and character which led to an engaging presentation. I would definitely sign up and recommend others do too for other topics/webinars led by him.”

“The content was excellent and brilliantly presented - most enjoyable webinar yet.”

“Branko’s analysis was cogent and incisive. A lucid explanation of an intricate decision.”