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The pandemic and political turmoil are causing widespread and long-term economic volatility after many years of positive trends. But covered commercial property losses continue, whether...
15 January 2021 Insurance – Business interruption insurance – COVID-19 The Financial Conduct Authority (FCA) commenced the present test case under the Financial Markets Test Case Scheme (the scheme) for the benefit of insurance policyholders, who held insurance policies which covered them against losses arising from interruption of business, to urgently clarify whether or not there was cover in principle under a variety of different standard insurance policies for COVID-19 related business losses. The defendants were eight insurers who were leading providers of ‘business interruption’...