Download full report with analyst certification and important disclosures
May 26 2020, 08:20 IST/BST
FBD Holdings
Court date set for business interruption test case
- Sectors : Insurance
- Companies : FBD Holdings
DAVY VIEW
The test case before the Commercial Court will set a precedent for whether FBD’s pubs policies provide cover for business interruption related to COVID-19. This approach will provide clarity for all rather than the alternative of many independent legal challenges and individual arbitration cases. FBD’s position has not wavered with respect to coverage, but the wording on the pub policy is not as strong as that on its standard business policies. Pubs represent 2% of total premiums and any insurable loss would be lowered by recent trends and cost savings.
