CPD WEBINAR: FCA Business Interruption Test Case - where are we now?

This webinar will focus on a number of various decisions made on complaints referred to the FOS following claims that have been turned down by insurers with the FOS considering the judgment of the Supreme Court in its decisions in addition to the recent AXA High Court case.

It will also provide an update following the judgment was handed down on 15 January 2021 to include insurer statistics on claims payments.

The FCA originally considered some 370,000 insureds have bought this cover from around 60 different insurers and the FOS does not appear to be over-stretching the reach of the judgment.

At the same time it will remind brokers, all of whom will have arranged these policies for clients, to encourage them to robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring they are not blamed for having sold policies that have not fully catered for the needs of clients (and it is clear that a number of brokers have faced negligence actions). Plus we will look at whether you need covid to be covered under your PI policy going forward and what could happen if you don’t.

Learning objectives - by the end of this webinar you will gain insights into:

• FOS decisions in key areas – specified illnesses, on premises cover, plague, etc;
• Claims payment statistics;
• The AXA High Court case;
• The advice process/what does this mean for clients/PII cover.

It is relevant to general insurance brokers/intermediaries, insurers, and any other market participants and everyone will receive a copy of the presentation after the talk.

Speaker bio

Branko Bjelobaba FCII started his insurance career in 1987 and has worked across the sector including stints at PwC and GISC and has led his own consultancy practice since 2004. He works closely with AMII, BIBA and the CII and has provided hundreds of well-received (even entertaining!) training events throughout the UK. He is a recipient of the Thomson Reuters Compliance Personality of the Year Award, the London Market People Award for Legal and Compliance and was Highly Commended in the CII Public Trust Awards 2021.

HOUSEKEEPING

This event will NOT be recorded. It is a Zoom webinar and your link will be sent to your 48 hours before the event.

Any questions please go to our Education Lead simon.mcgill@ecclesiastical.com