Reinsurance Implications of the United Kingdom's Business Interruption Test Case
Reinsurance Implications of the United Kingdom’s Business Interruption Test Case February 22, 2021 Authors: David Priebe, Chairman, Guy Carpenter, Lara Mowery, Global Head of Distribution, Guy Carpenter and Michael Sevi, General Counsel and Chief Compliance Officer, Guy Carpenter. On January 15, 2021, the UK Supreme Court issued its widely anticipated decision in the Financial Conduct Authority’s business interruption (BI) test case. The FCA brought the test case to resolve uncertainty for certain BI policyholders affected by the COVID pandemic. Although the Court ruled that some forms of...
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