Despite uproar from businesses across the UK, most insurers have refused to cover for losses of revenue or profit, which businesses have experienced because of Covid-19.
However, the Finance Conduct Authority (FCA) did confirm that its recent test case would provide more clarity, and that it has. As a result of The FCA v Arch and Others  EWHC 2448 (Comm) case, many of the roadblocks to successful claims have now been removed and insurers are legally obliged to compensate clients for their COVID-19 business interruptions.
In collaboration with Berkeley Rowe we have reviewed the test case to reveal what it means for insurers and businesses that have been affected by Covid-19.
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