INSURERS DROP APPEAL IN THREE TEST CASE POLICIES
Insurers have dropped their appeal against rulings for three policies covered by the recent business interruption test case brought by the Financial Conduct Authority (FCA). According to court documents published this week, insurers do not intend to appeal High Court judgements related to the Resilience, Eaton Gate Retail, and Eaton Gate Pubs and Restaurants policies. However, six insurers have applied to the Supreme Court to appeal judgements for the Cottagesure and the Eaton Gate Commercial Combined policies. The test case in June, which sought to clarify the extent of cover for Covid-19 related losses under 21 policy wordings, found in favour of policyholders on most, but not all, of the claims. The FCA and six insurers are continuing talks to resolve outstanding issues, but concurrently have applied to the Supreme Court to fast-track the appeal process.
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