FCA Test Case on Business Interruption
This comprehensive and interactive one hour webinar will focus solely on the ground-breaking test case at the High Court. Whilst the full hearing won’t begin until 20 July 2020 (and scheduled to take 8 days) we have already had a day of initial arguments (and this will happen again on 26 June 2020) and some of the insurers’ counsel have made interesting responses to the issues being raised by the FCA who have conducted a huge amount of assessment of a number of wordings (1,200 brokers and clients alike fed into their request for information).
It will examine the weaknesses in some wordings and the strengths in others and illustrate the dangers inherent in unclear wordings. Insurers and brokers have new requirements imposed on them as a result of FS20/8 and the event will explain what has to be done (from a broker's perspective). At the same time it will highlight the (potentially dangerous) exposure for insurance brokers all of whom will have arranged these covers for clients and encourage them to reassess the robustness of their advice process under ICOBS and their further professional duty to clients.
Learning objectives - by the end of this webinar delegates will gain insights into:
• Overview of the Test Case and why brought;
• Illustration of weak and strong wordings;
• What FS20/8 requires insurers and brokers to do;
• Threat to brokers in terms of the advice process;
• Revisit ICOBS and ensure your sales process is robust.
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.