Hiscox and UK insurers critique FCA’s “but for” stance in Covid-19 test case

The Covid-19 pandemic and the government’s subsequent lock-down measures are two separate causes and the FCA is wrong to conflate them when examining insurers’ liability under business interruption policies. This is one of the main lines of defence produced by Hiscox and seven other commercial UK insurers in their responses to the FCA’s test case, which were published by the regulator today.