Small firms welcome COVID insurance judgment – but some could lose out

SectorFinancial Markets

Small firms fighting for insurance pay-outs due to the lockdown have welcomed a court judgment which should help some advance their claims - but may see others lose out. The decision on a closely-watched test case brought by the Financial Conduct Authority (FCA), the City watchdog, is estimated to affect 370,000 businesses and £1.2bn worth of claims. Campaigners on behalf of the firms said the complex, 162-page ruling was a lifeline but the insurance industry said it had come down more...