AIR+04 Mar 2021

Concerns raised over reinsurance implications in BI test case

| 04 Mar 2021

The UK Supreme Court issued its decision in the Financial Conduct Authority's (FCA) BI test case on 15 January, ruling that some forms of BI insurance would cover COVID losses. However, experts from Guy Carpenter state that the court has adopted a narrow definition of a COVID 'occurrence' - an illness suffered by just one person or arguably several people in one household, raising questions about the meaning of the word 'occurrence' in other contexts.

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