BIBA and CII react to FCA business interruption stance

'Step in the right direction'

Adam Saville
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BIBA and CII react to FCA business interruption stance

FCA intends to seek legal clarity to resolve contractual uncertainty around business interruption insurance

Insurance industry bodies have welcomed the decision from the Financial Conduct Authority (FCA) to test the wording of certain BI contracts in court, following disputes regarding claims related to the coronavirus pandemic. Christopher Woolard, the interim chief executive of the FCA, said claims must be assessed and settled quickly. "Our intended court action is designed to resolve a selected number of key issues causing uncertainty as promptly as possible and to provide greater clarity ...

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