News & Analysis as of

Business Interruption United Kingdom Coronavirus/COVID-19

BCLP

English Court Decides COVID-19 is a “Catastrophe”

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The English Court has, for the first time, considered the meaning of a “catastrophe”, as well as how Hours Clauses work in the context of non-damage business interruption losses claimed under two Property Catastrophe Excess...more

BCLP

Banking Bites - November 2022

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Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more

BCLP

Reinsurance: aggregation of COVID losses post-Stonegate

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On 17 October 2022, the English Commercial Court delivered three very significant, related judgments, which in part considered aggregation of business interruption losses arising from COVID-19....more

Morrison & Foerster LLP

UK Litigation - A Year in Summary

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This year saw the UK grapple with life after Brexit and, along with the rest of the world, the impact of the continued COVID-19 pandemic. As 2021 draws to a close, we round up the key events and developments from the year in...more

Morgan Lewis

Arbitrator Denies Cover for Policyholders Regarding Business Interruption Losses

Morgan Lewis on

A group of hospitality policyholders failed in their attempt to obtain cover under a business interruption policy as it was determined, in an ad hoc arbitration, that the UK central government did not constitute “a competent...more

K&L Gates LLP

HUB Talks: Insurance Coverage for COVID-19 Losses in the United Kingdom

K&L Gates LLP on

In this episode, Sarah Turpin, Insurance Recovery and Counseling partner in our London office, discusses insurance coverage for COVID-19-related losses in the United Kingdom, including the UK Supreme Court’s important...more

Morgan Lewis

COVID-19: Policyholders’ Claims Against Insurers Get Boost After FCA Test Case

Morgan Lewis on

The UK Supreme Court issued a policyholder-friendly decision earlier this year on the Financial Conduct Authority’s business interruption test case. The judgment will apply to policyholders’ claims on a case-by-case basis....more

Hogan Lovells

New Release: Insurance Horizons Brochure 2021

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The global pandemic brought a wave of changes and developments that have impacted, and continue to impact, the insurance sector. As we look ahead, we see further change on the horizon. Around the world, we continue to...more

Hogan Lovells

UK COVID-19 Arrears: Guidance for landlords and tenants on the further extension to the forfeiture moratorium

Hogan Lovells on

The moratorium on landlords evicting commercial tenants has been extended by a longer period than many had expected, to March 2022.  Landlords and tenants will also be compelled to enter into arbitration proceedings if they...more

Hogan Lovells

Insurance regulatory news, April 2021 # 3

Hogan Lovells on

Solvency II: PRA supervisory disclosures - The UK Prudential Regulation Authority (PRA) has published Solvency II: Supervisory disclosures, PRA’s supervisory approach and insurance regulations applicable in the UK year-end...more

Hogan Lovells

UK commercial landlords and tenants: Government says your views will shape the road out of Covid-19

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30 June 2021 will be a date no doubt circled on many calendars as being the date when landlords in England currently expect to be able to reassert some control following the end of the “temporary” measures proposed and...more

Constangy, Brooks, Smith & Prophete, LLP

New Guidance On National Interest Exceptions Will Make International Travel To U.S. More Of A Challenge

The U.S. State Department recently issued new guidance on the National Interest Exceptions for international travelers to the United States. The guidance applies to inbound travelers from Ireland, the Schengen Area, and the...more

Hogan Lovells

Insurance regulatory news, March 2021 # 5

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Settling RTA whiplash-related injuries without a medical report - The Civil Liability (Specification of Authorised Persons) Regulations 2021 (SI 2021/326) have been published, together with an explanatory memorandum. The...more

BCLP

Briefcase Quarterly Update: Key Real Estate Cases - March 2021

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The Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2021] UKSC 1 - What was it about? ..The Supreme Court gave its view on various business interruption insurance policy clauses. ..The case was...more

Hogan Lovells

Insurance regulatory news, March 2021 # 4

Hogan Lovells on

UK Solvency II: PRA PS2/21 on expectations for work of external auditors on matching adjustment - The UK Prudential Regulation Authority (PRA) has published a policy statement, PS2/21, setting out its expectations for the...more

Conyers

To BII or not to BII – a Cayman Islands perspective

Conyers on

On 15 January 2021, the United Kingdom Supreme Court delivered its judgment on the appeals in the Business Interruption Insurance (BII) test cases between the UK’s Financial Conduct Authority and eight UK insurance companies....more

K&L Gates LLP

COVID-19: FCA Business Interruption Test Case - Unresolved Issue and Wider Implications of Supreme Court Judgement

K&L Gates LLP on

On 15 January 2021, the Supreme Court handed down its judgment in The Financial Conduct Authority v Arch and Others. Our alert of 19 January 2021 considered the implications of the judgment for policyholders seeking to claim...more

Hogan Lovells

Insurance regulatory news, March 2021 # 2

Hogan Lovells on

COVID-19: FCA final guidance on proving presence of COVID-19 in BI insurance claims - Following consultation, the UK Financial Conduct Authority (FCA) has published final guidance on proving the presence of coronavirus...more

Hogan Lovells

Insurance regulatory news, February 2021 # 4

Hogan Lovells on

COVID-19: FCA update on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case....more

Cohen & Gresser LLP

A New Approach to Causation? The UK’s Supreme Court Hands Down Judgment in the Business Interruption Insurance Test Case

Cohen & Gresser LLP on

On 15 January 2021, the Supreme Court handed down its hotly-anticipated judgment in the business interruption insurance test case (FCA v Arch and others [2021] UKSC 1). Hailed as a further “victory” for thousands of holders...more

Morrison & Foerster LLP

COVID-19 Support Measures: What Should Directors Be Thinking About As These Ease?

As the UK Government’s COVID-19 support measures ease, there are a number of considerations that directors should be thinking about... ...more

Cooley LLP

Blog: The Supreme Court Takes up the Cause – The Judgment in the FCA COVID-19 Test Case on Business Interruption Insurance

Cooley LLP on

On 15 January 2021, the Supreme Court handed down its judgment in the FCA COVID-19 test case, heard on a “leapfrog” appeal (bypassing the Court of Appeal) from the first instance decision of Lord Justice Flaux and Mr Justice...more

A&O Shearman

Top UK finance litigation and contract law developments from 2020

A&O Shearman on

This is a round-up of the most interesting finance litigation and contractual developments in 2020. The selection is necessarily subjective and draws from a wide range of cases and developments that are of direct relevance to...more

Hogan Lovells

Insurance regulatory news, February 2021

Hogan Lovells on

COVID-19: FCA Dear CEO letter on BI insurance test case and outcome table - On 22 and 29 January 2021, the FCA updated its webpage on its business interruption (BI) insurance test case. The FCA has published ...more

Zelle  LLP

The Financial Conduct Authority v. Arch and Others [2021] UKSC 1 (“the FCA Test Case”)

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On 15 January 2021 the UK Supreme Court handed down its highly anticipated judgment in the FCA Test Case. The COVID-19 pandemic has forced the UK Government to introduce public health measures which have resulted in...more

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