FCA has updated its information page on the consequences from the judgment in the business interruption insurance test case. It noted that it held meetings with policyholders and their lawyers over 4 days in the week of 21 September, and noted that the deadline for filing any application for a “leapfrog” appeal to the Supreme Court was 4pm on 28 September. The High Court will consider any applications for appeal on 2 October, at the “consequentials” hearing – and the deadline for skeleton arguments for that hearing is 12:00 on 30 September.
FCA confirmed also that it filed a leapfrog application. Its intention throughout the court process has been to provide clarity at speed, and it considers the initial judgment provided that. It is working with other parties to reach an agreement in principle on issues for which an appeal process will not be required, so that payments can be made on eligible claims as soon as possible. It has made its application on a precautionary basis in case the agreement is not reached by close of business on 30 September,.