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FCA coronavirus test case

1st Jun 2020

Two teams from 7KBW are acting for three insurers involved in the FCA test case to determine whether sample Business Interruption wordings respond to coronavirus losses.

The test case is expected to lead to an urgent trial in late July, in what is likely to be the most significant insurance litigation for many years.

With many SME insurers having suffered serious losses in recent months, the FCA and selected insurers are cooperating to achieve clarity and certainty on disputed BI issues with reference to representative sample wordings.

Further details were announced by the FCA this morning.

Gavin Kealey QC, Andrew Wales QC, Sushma Ananda and Henry Moore, instructed by DAC Beachcroft, act for MS Amlin Underwriting Ltd and Ecclesiastical Insurance Office plc.

Jonathan Gaisman QC, Adam Fenton QC and Harry Wright, together with Miles Harris from 4 New Square, instructed by Allen and Overy, act for Hiscox.