Business not as usual - The Financial Conduct Authority v Arch and Others

Abstract

The United Kingdom (UK) Supreme Court’s decision in The Financial Conduct Authority (FCA) v Arch and Others is of considerable significance. It is arguably the leading authority, not just in the UK but elsewhere in the common law world, on the response of business interruption insurance (BII) policies to claims arising from the COVID-19 pandemic. This article explains the nature of BII policies and the law in England and Wales prior to the decision in FCA v Arch. It then examines the Supreme Court’s decision in detail before reflecting on its wider implications for policyholders, insurers and others.