Overview
Law360 quoted Angus Rodger in a September 15 article titled "Lockdown Test Case Win May Not Yield Quick Relief For Biz." The article discusses the UK High Court trial determining whether insurers are liable to pay out on claims for business interruption made by companies that were forced to close during the COVID-19 lockdown. The High Court ruled in favor of businesses in the majority of the 21 policy wordings being considered in the test case brought by the Financial Conduct Authority (FCA). But experts say that if insurers appeal the ruling, policyholders might not see claims paid until 2021, if at all.
Rodger tells Law360 he "wouldn't be surprised" if the FCA pushed the insurers to make short-term payments. But until now the FCA had shown signs it was willing to wait until the final outcome of the case was clear, after any appeal, he adds.
"My instinct is that there won't be a further test case, but that there will be pressure from FCA," Rodger says.
The full article can be read at Law360 (subscription required).
