FCA Business Interruption High Court update


The legal test case brought by the Financial Conduct Authority against various insurers started yesterday 20th July in the High Court.

The trail is set to take place over eight days, running from Monday 20th-23rd July 2020 and Monday 27th -30th July.

The FCA case involves 60 insurers, 700 different types of insurance policy wordings and an estimated 370,000 policyholders.

The FCA has produced an agreed list of issues and common ground which summarises what is and what is not in dispute between the parties involved with the case.

The FCA has also published ten sets of agreed facts, with supporting evidence, which the parties have agreed, and which are necessary to resolve the issues in dispute.  As well as a new set of assumed facts.

The trial timetable will be split between the Claimant and the Defendants as follows:

  • Days 1 to 3: Claimants' opening submissions
  • Days 4 to 7: Defendants’ submissions
  • Day 8: Claimants' closing submissions

The time for the Defendants’ oral submissions will be allocated approximately as follows (precise timings may change, albeit not substantially, but barring unforeseen circumstances, the order of the Defendants’ submissions will not):

  • Day 4 Thursday 23 July - General submissions on causation Gavin Kealey QC 2.5 hours and The Seventh Defendant RSA 2.5 hours
  • Day 5 Monday 27 July - The Fourth Defendant Hiscox 3 hours and The Fifth Defendant Amlin 2 hours
  • Day 6 Tuesday 28 July - The Third Defendant Ecclesiastical 2 hours and The First Defendant Arch 1 hour and The Eighth Defendant Zurich 2 hours
  • Day 7 Wednesday 29 July - The Sixth Defendant QBE 4 hours and The Second Defendant Argenta 1 hour

The trial is being broadcast via a live-stream and individuals wishing to watch it can CLICK HERE to access the Ministry of Justice external link to the footage which will become live just before each day’s sitting starts (due 10.30 am).

Please note that the court rules do not allow any form of recording to be made of the live-stream proceedings.