FCA Business Interruption Insurance Test Case - FOS decisions

Thursday, 25 November 2021
12:00 pm – 1:00 pm
    • Branko Bjelobaba FCII, MIoD Chartered Insurance Practitioner

FCA Business Interruption Insurance Test Case - FOS decisions

The one-hour webinar aims to be comprehensive and interactive and will focus on a number of various decisions made on complaints referred to the FOS following claims that have been turned down by insurers with the FOS considering the judgment of the Supreme Court in its decisions.

It will also provide an update following the judgment was handed down on 15 January 2021 to include insurer statistics on claims payments and on the Supreme Court’s Declarations (still awaited).

The FCA originally considered some 370,000 insureds have bought this cover from around 60 different insurers and the FOS does not appear to be over-stretching the reach of the judgment.

At the same time it will remind brokers, all of whom will have arranged these policies for clients, to encourage them to robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring they are not blamed for having sold policies that have not fully catered for the needs of clients (and indeed brokers may be facing negligence actions right now). Plus we will look at whether you need covid to be covered under your PI policy going forward and what could happen if you don’t.

Learning objectives - by the end of this webinar you will gain insights into:

  • FOS decisions in key areas – specified illnesses, on premises cover, plague, etc;
  • Claims payment statistics;
  • The advice process/what does this mean for clients/PII cover.

It is relevant to general insurance brokers/intermediaries, insurers, and any other market participants and everyone will receive a copy of the presentation after the talk.

Speaker bio

Branko Bjelobaba FCII joined the insurance industry in 1987 and has worked across the sector including PwC and GISC and has led his own consultancy practice since 2004. He works closely with BIBA (and has published its compliance manual since 2004) and the CII and has provided well-received (even entertaining…) training events to thousands of people throughout the UK. He is a recipient of the Thomson Reuters Compliance Personality of the Year Award, the London Market People Award for Legal and Compliance and was Highly Commended in the 2021 CII Public Trust Awards.

Since the world went virtual Branko has so far provided over 150+ events to more than 10,000 insurance professionals and feedback has been superb:-

I have had the pleasure of attending two webinars hosted by Branko this year, both times on fairly 'heavyweight' topics - the Supreme Court decision on the BI Insurance test case and most recently on the FCA's new GI pricing practices. In my opinion Branko is the epitome of a professional speaker - knowledgeable, engaging and enthusiastic about his subject, something which is essential when trying to convey often complex information. The tone and content of his webinars are always pitched at just the right level for his audience - not overly technical but at the same time imparting sufficient knowledge for you to feel that it was worthwhile attending. I'm looking forward to the next one. Sarah Offord-Jones FCII.

I attended the session provided by Branko for the Insurance institute of Northern Ireland. He covered in a very efficient and concise manner the Supreme Court decision on Covid and the consequences for the industry. The 1 hour passed too soon as was evidenced by the number of questions and comments from the audience. I would recommend Branko to any insurance body seeking practical information on this topic. You will not want to leave the session even for a coffee. Tom McGrath CBE, FCII.

CII Accredited

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.

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