Brexit

Lloyd’s is proposing to transfer certain EEA insurance policies to Lloyd’s Brussels.  The proposed transfer will not change terms and conditions of any policy, except that Lloyd’s Brussels will become the insurer and Data Controller in respect of the transferred policies.

Further information about the proposal (including whether it could affect your pre-transfer position), which policies are transferring, your rights and what you need to do can be found at https://www.lloyds.com/brexit-transfer.

Non-Property-Damage Business Interruption Cover (‘non-damage BI’ cover) and the FCA’s test-case

The Financial Conduct Authority (FCA) recently announced its intention to seek clarity and certainty around non-damage BI cover in relation to the coronavirus pandemic. A test-case has been brought in court against what the FCA considers to be a range of non-damage BI policy wordings that are representative of those used by the insurance industry. The aim of the test-case is to determine the interpretation of certain clauses within policies that include non-damage BI. This will assist in providing greater clarity to insurers and policyholders alike in the handling of COVID-19 claims. If you have submitted a COVID-19-related non-damage BI claim or complaint, we will contact you by 15 July 2020 to confirm whether or not your policy will be affected by the outcome of the test-case. We will regularly update this page with information in relation to the test-case.