FCA Business Interruption Insurance test case
This comprehensive and interactive joint IIL and Branko Limited webinar will focus on the FCA’s groundbreaking test case at the High Court where some 8,500 policyholders await to hear whether their claim will be accepted or not. While the full hearing won’t begin until 20 July 2020 (and is scheduled to take eight days) we have already had two days of initial arguments and some of the insurers’ counsel have made interesting responses to the issues being raised by the FCA.
The FCA has conducted a huge amount of assessment of a number of wordings (1,200 brokers and clients alike fed into their request for information) and this event will address the key issues, the wordings utilised and why insurers feel they are within their rights to decline the claim.
Insurers and brokers with delegated authority have had new requirements imposed on them as a result of FS20/8 (effective from 17 June 2020). At the same time it will highlight the exposure for insurance brokers, all of whom will have arranged these covers for clients (and some will be classed as co-manufacturers under PROD), and encourage them to reassess their advice process under ICOBS and their overriding professional duty to clients.
By the end of this webinar attendees will have gained an insight into:
- The Test Case and why brought
- Insurers’ defences
- What FS20/8 requires insurers and brokers to do
- The threat to brokers in terms of the advice process
- ICOBS and how to ensure your sales process is robust
This webinar is relevant to general insurance brokers/intermediaries, their insurers and any other market participants.
This webinar will be hosted on Zoom. Please familiarise yourself with their T&Cs and Privacy Statement.
To book, please click onto the link below and joining instructions will be issued immediately (please note that there is a nominal fee of £20 to attend this talk and capacity has been restricted to 100). All participants will receive a copy of the presentation after the webinar.
Please contact firstname.lastname@example.org (0800 619 6619) with any queries.
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.