Webinar Event - FCA Business Interruption Insurance Test Case – Supreme Court Appeal

The Insurance Institute of Cardiff invite you to a webinar on FCA Business Interruption Insurance Test Case – Supreme Court Appeal

Event Details:

Thursday 28th January 2021 2:00 – 3:00pm

The webinar will be run via Zoom, a global web-conferencing solution. Zoom is easy to use, a link and joining instructions will be sent to you prior to the webinar.

About the session:

This comprehensive and interactive one-hour webinar will focus on the judgment of the Supreme Court following the appeal of the FCA’s ground-breaking test case at the High Court. The appeal concluded on 19 November and the judgment will be handed down expeditiously. Four days were spent setting out starkly differing views between the FCA and insurers.

The appeal judgment will be very clear and all parties will have to accept it. The FCA consider some 370,000 insureds have had payments denied and they have battled to convince the five Justices that sense should prevail and that a composite cause has operated – Covid + government regulations + the public response and insurers have disputed this saying this is stretching causation too far. This case will be momentous and will set clear precedent as to the clarity of wordings and what needs to happen to ensure future cover (or lack of) is clear and understood by all parties.

At the same time it will highlight the ongoing exposure for insurance brokers all of whom will have arranged these covers for clients (and some will be classed as co-manufacturers under PROD) and encourage them to robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring they can access fairly-priced professional indemnity insurance rather than be subject to an unacceptable blanket exclusion.

Learning Objectives

• The Test Case and why brought;
• The judgment - what has been decided;
• The threat to brokers in terms of the advice process;
• ICOBS and how to ensure your sales process is robust.

It is relevant to general insurance brokers/intermediaries, their insurers and any other market participants. Joining instructions will be sent out shortly before the Zoom webinar begins and all participants will receive a copy of the presentation after the talk

About the speaker:

Branko Bjelobaba FCII has worked for 32 years across the sector and latterly at PwC and GISC and has led his own consultancy practice for 16 years. He works closely with BIBA (and has published its compliance manual since 2004) and the CII and has provided many well-received (even entertaining!) training events throughout the UK. He is a recipient of the Thomson Reuters Compliance Personality of the Year Award and the London Market People Award for Legal and Compliance.

Further information.

A link will be sent via your email address supplied the day before the webinar. PLEASE DO NOT share this with anyone else.

Please note that this webinar will be hosted on the Zoom platform which may be restricted by some employers. Members may need to utilise their own personal devices in these circumstances to access the platform.

To view our image and video capture consent statement, please click here.