DIGITAL SATELLITE WARRANTY COVER LTD V FINANCIAL SERVICES AUTHORITY

[2011] EWCA Civ 1413, Court of Appeal, Lord Justice Maurice Kay, Lord Justice Aikens and Lord Justice Patten, 29 November 2011

Insurance (regulation) - Contracts providing for repair and replacement of defective or damaged equipment - Whether constituting regulated insurance business - Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

DSW offered extended warranties to consumers in relation to satellite television equipment, including dishes, digital boxes and cabling. The contracts issued by DSW varied in form, but in most cases provided both breakdown and accidental damage cover. The Financial Services Authority sought a winding-up order on the ground that DSW was carrying on insurance business without the authorisation required by the Financial Services and Markets Act 2000. The Court of Appeal upheld the judgment of Warren J and granted the winding-up order.