This comprehensive and interactive joint Insurance Institute of London (IIL) and Branko Limited webinar will focus on the FCA’s groundbreaking test case at the High Court where some 8,500 policyholders await to hear whether their claim will be accepted or not. While the full hearing won’t begin until 20 July 2020 (and is scheduled to take eight days) we have already had two days of initial arguments and some of the insurers’ counsel have made interesting responses to the issues being raised by the FCA.

The FCA has conducted a huge amount of assessment of a number of wordings (1,200 brokers and clients alike fed into their request for information) and this event will address the key issues, the wordings utilised and why insurers feel they are within their rights to decline the claim.

Insurers and brokers with delegated authority have had new requirements imposed on them as a result of FS20/8 (effective from 17 June 2020). At the same time it will highlight the exposure for insurance brokers, all of whom will have arranged these covers for clients (and some will be classed as co-manufacturers under PROD), and encourage them to reassess their advice process under ICOBS and their overriding professional duty to clients.