Forthcoming events

FCA Business Interruption Test Case - the judgment

• Fri 25 Sep 12:00 pm – 1:00 pm
• Webinar
• • Branko Bjelobaba FCII, http://branko.org.uk/about/

Branko Bjelobaba FCII delivers this comprehensive and interactive one-hour webinar, which will focus on the judgment following the FCA’s ground-breaking test case at the High Court. The hearing concluded on 30th July and the judges have agreed to hand down their judgment for mid-September. Eight days have been spent analysing countless policy wordings and individual words and their everyday meanings. The FCA consider some 370,000 insureds have had payments denied as insurers have interpreted wordings only to suit themselves and each of the eight insurers’ counsel has presented evidence and argument as to why their interpretation is correct and why the FCA has got this wrong. 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 is clear and understood by all parties. At the same time it will highlight the exposure for insurance brokers all of whom will have arranged these covers for clients (and some will be classed as co-manufacturers under PROD) and encourage them to robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring their own professional indemnity costs remain reasonable (clearly not knowing how the case will go at the time of advertising this session!).