Countdown has started for the FCA’s Coronavirus test case
Countdown has started for the FCA’s Coronavirus test case – the FCA is taking a number of insurers and their respective policy wordings to court in July, in a test case to provide coverage interpretation for business interruption policies. The stakes are high for all. New COVID-19 related exclusions are applying mid-term and a solution of some description is needed. Whatever the outcome, expect to see “customer experience”, “digital” , “fast” and “rules-based claims automation” feature prominently in commercial SME solutions going forward.