The Supreme Court dismissed insurers’ appeals in the Financial Conduct Authority’s business interruption test case on Friday, bringing to a close a six-month legal battle.
The court also “substantially” allowed the appeal of the FCA, which had been representing the interests of policyholders in the case.
It also overturned the landmark 2010 Orient-Express Hotels v Assicurazioni Generali ruling, concluding that it had been “wrongly decided.” Insurers had argued that the High Court’s judgment undermined the precedent set by the ruling.
