Allianz business update: FCA Test Case appeals process
As part of our ongoing commitment to keeping you updated with the latest updates from our Insurer Partners, please find the latest communication from Allianz regarding the FCA Test Case appeals process.
We wrote to you on 10 September to let you know that the High Court had issued its judgment on the Covid-19 Business Interruption test case.
A further hearing took place on 2 October where a number of follow up matters, including hearing requests for appeals from various parties were considered.
The Court granted certificates to the Financial Conduct Authority (FCA) and all insurers in the test case who asked for a certificate, enabling them to request an appeal directly to the Supreme Court.
Those who received a certificate are now entitled to apply to the Supreme Court for permission to appeal against various aspects of the judgment. We understand that the FCA and the insurers involved in the test case continue to have discussions to see if a solution can be found which might avoid the need for an appeal. As Allianz is not a party to the test case, it’s difficult to know whether those discussions are likely to be productive and, if they are not, when the appeal might be heard.
What this means for your customers
We’re currently working through our policies to understand how any appeal process might affect your customers’ claims. We’ve written to any customers who may be affected and advised them that no action is currently required from them. We’ll be in touch as soon as possible to let them know if their claim is likely to be affected by any appeal and whether their policy will respond or not.