CPD WEBINAR: FCA BI Test Case - Supreme Court appeal

The appeal concluded on 19 November and the judgment will be handed down expeditiously. Four days were spent setting out starkly differing views between the FCA and insurers.

The appeal judgment will be very clear and all parties will have to accept it. The FCA consider some 370,000 insureds have had payments denied and they have battled to convince the five Justices that sense should prevail and that a composite cause has operated – covid + government regulations + the public response and insurers have disputed this saying this is stretching causation too far. This case will be momentous and will set clear precedent as to the clarity of wordings and what needs to happen to ensure future cover (or lack of) is clear and understood by all parties.

At the same time it will highlight the ongoing exposure for insurance brokers all of whom will have arranged these covers for clients (and some will be classed as co-manufacturers under PROD) and encourage them to robustly reassess their advice process under ICOBS and their overriding professional duty to clients thus ensuring they can access fairly-priced professional indemnity insurance rather than be subject to an unacceptable blanket exclusion.

The talk will cover

- Initial thoughts

- What has been at stake -

- How covid has affected different sectors

- The Supreme Court judgment:-

- Disease clauses - Prevention of access clauses - Causation - Trends clauses

- Pre-trigger losses

- Orient Express case

- What insurers now have to do

- Is there a threat to brokers

Learning objectives - by the end of this webinar delegates will gain insights into:

• The Test Case and why brought;
• The appeal - what has been decided;
• The threat to brokers in terms of the advice process;
• ICOBS and how to ensure your sales process is robust.

It is relevant to general insurance brokers/intermediaries, their insurers, and any other market participants. Joining instructions will be sent out shortly before the Zoom webinar begins and all participants will receive a copy of the presentation after the talk.

Speaker bio

Branko Bjelobaba FCII has worked for 32 years across the sector and latterly at PwC and GISC and has led his own consultancy practice for 16 years. He works closely with BIBA (and has published its compliance manual since 2004) and the CII and has provided many well-received (even entertaining!) training events throughout the UK. He is a recipient of the Thomson Reuters Compliance Personality of the Year Award and the London Market People Award for Legal and Compliance.

During lockdown Branko has provided 100+ CPD events reaching 6,000+ people and the feedback has been superb:-