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UK regulator fires opening salvo against insurers in BI test case – Daily – Insurance News
The Financial Conduct Authority (FCA) has fired its opening salvo in its business interruption (BI) test case against QBE and seven other insurers in the UK High Court.
FCA lawyers, who presented first on the opening day of the trial on Monday, accused the eight insurers of trying to “cherry-pick” from clauses contained in BI policies to avoid indemnifying clients who have suffered losses caused by the virus pandemic.
Colin Edelman QC, counsel for FCA, told the court the insurers “are not alwa…
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