Business interruption insurance claims

Supreme Court hands down judgment on FCA test case

The Supreme Court has now handed down its judgment in the appeal from the Commercial Court’s decision on the FCA’s business interruption insurance test case.

We will be reading through the 114 page judgment during the course of today. We will then set out what we view are the most important points arising from the Supreme Court’s judgment for both businesses and insurers in a separate detailed article.

However, it appears from the comments made by the Supreme Court by video link this morning that the FCA has been substantially successful in its appeal on many of the points in issue. Not least, the Supreme Court has overruled the judgment in Orient-Express Hotels Limited v Assicurazioni Generali Spa [2010] EWHC 1186 which was heavily relied upon by all the insurers in the Commercial Court.

More in due course.