May 15, 2020 / 10:35 AM / 12 days ago

Britain's markets watchdog says business interruption case will be legally binding

LONDON, May 15 (Reuters) - Britain’s Financial Conduct Authority said on Friday a test case it is bringing over business interruption claims would be legally binding for those insurers involved in the case.

The FCA is bringing the case after small businesses said their insurance claims were being denied.

The results of the case would also provide “persuasive guidance” for the interpretation of similar policy wordings and claims in other court cases, the FCA said in a statement. (Reporting by Carolyn Cohn Editing by Maiya Keidan)

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