LONDON (Reuters) – Britain’s Financial Conduct Authority said on Tuesday it has filed an appeal in a test case as a precaution against insurers not agreeing by Wednesday to pay out on business interruption claims made during the pandemic.
The FCA said it continues to “work closely and at speed” with the eight insurers and two intervenors that participated in the test case to reach an agreement in principle on a range of issues to avoid an appeal.
An agreement is needed by close of business on Wednesday, and seven insurer parties have made similar precautionary appeals, the FCA said.
(Reporting by Huw Jones; Editing by Dhara Ranasinghe)
