Update FCA Test Case 15-01-21

Supreme Court Appeal Update

Following the previous test case outcome at the High Court, which ruled mainly in favour of policy holders, insurers and the FCA lodged appeals.  This appeal process has now been finalised in the Supreme Court and their rulings were given on the 15th January 2021.  Fundamentally, the Supreme Court upheld the previous rulings by the High Court and in some cases expanded the ruling to be more favourable to policyholders.

Since the Supreme Court issued their final ruling on the BI test case appeal's, we have been discussing with insurers to understand the next steps for our policyholders.  Our main insurer for Surgery Insurance is Arch Insurance (UK) and in respect of these policies we can advise of the following procedure that will be taking place:

  • All previous claims submitted, either partially paid or declined previously will receive a letter/email from the claim's handlers within the next couple of days advising of the process for reconsidering your claim.
  • This letter should advise of the accountants being used to process your Business Interruption claim on behalf of Arch and how to contact them in order to provide the necessary information to quantify your claim.

Please note the above process relates to those policyholders that have previously submitted a claim, if you have not and you feel that you have a valid claim please follow the claims process within your policy document.  New claims may experience a slight delay while the previous claims submitted are being reconsidered.

At MIC we appreciate that this has taken some time to come to this point for policyholders, but I can say we have been working in our client's interest throughout this period with insurers, broker associations and the FCA.  Members of our team are happy to answer any questions.



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