Financial watchdog asks courts to clarify coronavirus business insurance
by Mark Sweney from on (#52XA4)
City regulator questions whether companies can claim compensation for disruption
Britain's financial watchdog is urgently seeking clarity from the courts over the insurance rights of companies whose business has been disrupted by the Covid-19 pandemic.
The Financial Conduct Authority, which says it still believes most claimants on business interruption policies do not have the right coverage to warrant a payout, is seeking a fast-track court declaration to resolve uncertainty for many customers making claims".
The UK government has said that these five tests have to be met before they will consider easing coronavirus lockdown restrictions:
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