FCA orders swift contact with policyholders after business interruption decision

By Neasa MacErlean

The FCA says that policyholders affected by its business interruption case in the High Court "can expect to hear from their insurer" imminently. The decision in The Financial Conduct Authority v Arch and Othershas direct implications for the future of thousands of small firms that relied on Business Interruption (BI) cover to keep them afloat during lockdown. The insurers tended to have a far narrower interruption of what was needed to make a successful claim than policyholders or the regulator.