FCA Business Interruption Insurance Test Case – Supreme Court appeal

Online event
Monday, 18 January 2021
10:00 am – 11:00 am
    • Branko Bjelobaba FCII, Senior Consultant on FCA Compliance, Branko Limited
  • Webinar

This interactive joint IIL and Branko Ltd webinar focussed on the judgment of the Supreme Court following the appeal of the FCA’s groundbreaking test case at the High Court. The appeal concluded on 19 November and the judgment will be handed down expeditiously. Four days were spent setting out starkly differing views between the FCA and insurers.

The appeal judgment will be very clear and all parties will have to accept it. The FCA consider some 370,000 insureds have had payments denied and they have battled to convince the five Justices that sense should prevail and that a composite cause has operated – covid + government regulations + the public response and insurers have disputed this saying this is stretching causation too far. This case will be momentous and will set clear precedent as to the clarity of wordings and what needs to happen to ensure future cover (or lack of) is clear and understood by all parties.

At the same time it will highlight the ongoing 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 robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring they can access fairly-priced professional indemnity insurance rather than be subject to an unacceptable blanket exclusion.

By the end of this webinar attendees will have gained an insight into:

  • The Test Case and why brought;
  • The appeal - what has been decided;
  • The threat to brokers in terms of the advice process;
  • ICOBS and how to ensure your sales process is robust.

During lockdown Branko has provided 100+ CPD events reaching 6,000+ people and the feedback has been superb:

“Branko's webinars are certainly one of the best. He can present quite a dry and relatively boring subject with such a passion and engages his public constantly. His events have very valuable content and presentation materials are well prepared and comprehensive.”

“Branko has energy and enthusiasm and character which led to an engaging presentation. I would definitely sign up and recommend others do too for other topics/webinars led by him.”

“The content was excellent and brilliantly presented - most enjoyable webinar yet.”

“Branko’s analysis was cogent and incisive. A lucid explanation of an intricate decision.”

Contact

Please contact info@branko.org.uk (0800 619 6619) with any queries.

Venue
  • Online event

CII Accredited

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.