HAG challenges FCA coronavirus test case

The Hiscox Action Group has formally applied to intervene in the Financial Conduct Authority's High Court test case designed to clarify business interruption policy wordings and coverage from the coronavirus pandemic. The SME policyholder action group said the move followed the refusal of Hiscox's to agree to an expedited arbitration process.

According the HAG’s law firm Mischon De Reya, the FCA case does not currently include any of the policy holders who have lost out from insurers refusing to settle COVID-19 business interruption claims.

Mark Killick, of the HAG steering committee, commented:“It is not right that a case like this is proceeding without policyholders having a voice and this intervention will address that. It is our members that are going out of business and they are entitled to be heard.”

Mischon de Reya, partner Richard Leedham added: “Hiscox has so far refused to agree to an expedited arbitration claim and pointed to the FCA case. This case is clearly becoming increasingly important and it is imperative that HAG members - who are some of the victims here - have a voice. This refusal to honour its own arbitration process has left the HAGf with no choice but to seek to join the FCA action."

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