The Financial Conduct Authority’s (FCA) test case over coronavirus-related insurance claims will head to the Supreme Court after the High Court agreed to a fast-track appeal. The case was brought by the FCA against eight insurers to clarify policy wordings and whether policyholders were due payouts. With insurers and the regulator set to take disputed claims to the Supreme Court, small firms face waiting until next year to find out if they will receive payouts for pandemic-driven disruption. Sonia Campbell of law firm Mishcon de Reya, who is leading one of two action groups of policyholders, said insurers opting to appeal was another “nail in the coffin for small businesses”.
Read more: Daily Mail