Restaurants that changed to takeaways under lockdown not 'same insured business' argues FCA
The Financial Conduct Authority has argued that where businesses made changes to their model and customers could not access them as normal, giving the example of a restaurant becoming a takeaway, they are not the "same insured business" and insurers should, therefore, pay out for business interruption.
Arch, Argenta, Ecclesiastical, Hiscox, MS Amlin, QBE, RSA and Zurich are all named as defendants in the case, with the outcome expected to affect at least 16 insurers.
The FCA is arguing on behalf of
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