The UK Supreme Court has delivered its judgment in the FCA BI Test case.
The FCA has announced that “It substantially allows the FCA’s appeal and dismisses the insurers’ appeals. This means that many thousands of policyholders who have cover should now have their claims for coronavirus-related business interruption losses paid.”
The FCA website provides links to a Press Release and other reports of the judgment, which can be accessed via this link: https://www.fca.org.uk/firms/business-interruption-insurance#latest-updates.
Commentary and discussion of the issues arising are already proliferating.
The judgement itself can be viewed here.