The UK’s High Court has upheld its judgement in favour of policyholders, announced in September, on the Financial Conduct Authority’s (FCA) business interruption insurance test case. The group action lawsuit saw the financial regulator and a group of insurance and reinsurance companies seek legal clarity on whether insurers were obligated to pay out on business interruption (BI) claims related to the pandemic. The FCA’s case against eight insurers was launched in June 2020...