No judgment in UK COVID business insurance appeal before Jan 2021-watchdog

LONDON (Reuters) – Britain’s Financial Conduct Authority has been told by the UK’s Supreme Court that no judgment in an appeal over business interruption insurance will be handed down before Jan 2021, the markets watchdog said on Tuesday.

The appeal by the FCA and six insurers in a test case over business interruption payments as a result of the COVID-19 pandemic is being closely watched, as billions of pounds in claims potentially rest on the outcome.