WEBINAR: FCA BI Test Case – Supreme Court Appeal

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 was handed down on 15 January 2021. Four days were spent setting out starkly differing views between the FCA and insurers.

The appeal judgment is very clear and insurers have lost. The FCA consider some 370,000 insureds have had payments denied and they 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 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 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 - by the end of this webinar you will gain insights into:

• The Supreme Court judgment - Disease and Prevention of access clauses, Causation, Trends clauses, Pre-trigger losses and the Orient Express case;
• What insurers now have to do;
• Is there a threat to brokers?