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U.K. high court extends reach of business interruption coverage for policy holders – What do U.S. insurers need to know?
Tuesday, January 26, 2021
Last week, the United Kingdom’s Supreme Court issued a landmark ruling (the “Judgment”) analyzing the extent to which business interruption coverage applies to losses caused by the 2019 novel coronavirus (COVID-19) pandemic and resulting government restrictions. In a ruling that bucked the trend of most American decisions on the topic, the U.K. Supreme Court found that some losses caused by COVID-19 and consequent local or national restrictions should be covered by business interruption coverage.
The FCA Ruling