Insurers will have a huge bill to pay following the long-awaited Supreme Court ruling that they must pay companies forced to close during the first national pandemic lockdown.

The Financial Conduct Authority (FCA) won its case over business interruption cover, which insurers argued did not apply. 

The ruling does not cover all possible wordings – in bringing the case, the FCA raised 21 sample wordings from eight insurance companies and asked for a determination on the issues of principle on coverage and causation under those wordings. 

Clive O’Connell, head of insurance and reinsurance at McCarthy Denning, said the sample is sufficient to allow everyone to gain an understanding of just about all po...

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