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Insurers shouldn't assess Covid-19 losses on revenue leading up to lockdown, FCA lawyers argue

By Fiona Maxwell ( July 22, 2020, 13:22 GMT | Insight) -- Insurance policies should pay out for companies that experienced losses due to the Covid-19 pandemic based on average revenue, not the amount made in the days leading up to government-enforced closures, lawyers arguing on behalf of the UK's Financial Conduct Authority argued today in its test case at a London court over business-interruption cover.Insurance policies should pay out for companies that experienced losses due to the Covid-19 pandemic based on average revenue, not the amount made in the days leading up to government-enforced closures, lawyers arguing on behalf of the UK's Financial Conduct Authority argued today. ...

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