The financial services regulator (the FCA) has today (1 June) set out the detail of its test case strategy to address the dispute about business interruption insurance and Covid-19. In just over a month it has secured a representative sample of policy wordings which it is seeking to test in the High Court in mid-July.Continue reading
The financial regulator generally publishes its business plan in early spring. The plan for 2020/21 was released this week and is dominated by its approach to protecting customers and promoting stable and efficient markets during the coronavirus pandemic. It also highlights the challenges facing the UK financial services regime as we move towards the end of the EU transition period and summarises the particular scrutiny it will bring to bear on the main parts of the financial services sector, general insurance being one.