Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

FCA definition

What does FCA mean? In legal practice, FCA means the UK financial conduct authority, the conduct regulator for most financial services firms and markets. It sets and enforces conduct standards (including the Consumer Duty), authorises firms and individuals, and oversees markets so they function well for consumers and market integrity. Created by the Financial Services Act 2012 and exercising powers under the Financial Services and Markets Act 2000 (FSMA), the FCA replaced the FSA in 2013. It makes rules in the FCA Handbook, polices financial promotions (FSMA s.21), supervises firms, and uses extensive enforcement powers. The FCA is the UK competent authority...

UK Supreme Court on FCA COVID-19 non-damage business interruption insurance: disease, prevention of access, hybrid and vicinity clauses; causation and trends clauses, including pre-trigger losses

Published by a LexisNexis Insurance & Reinsurance expert

Practice notes

ARCHIVED: This Practice Note was archived and is not maintained.

Unlike familiar hazards such as fire or flood, a viral outbreak cannot be neatly tied to a specific place or moment in time. The 2020 coronavirus (COVID-19) outbreak and the resulting government measures therefore confronted insurers with a novel Loss landscape, where the factual intricacies were compounded by a shortage of clear judicial Authority on key questions arising in business interruption claims, including:

the interpretation of composite insured perils in non-damage business interruption policies (ie, the so-called ‘disease’, ‘prevention of access’ and ‘hybrid’ clauses)
the appropriate approach to causation for ‘wide-area’ perils, which tend to cause loss not only to the insured premises but also across the surrounding area
identifying the proximate cause of loss amid multiple competing causes, some insured and some not
the construction and practical operation of ‘trends’ clauses in the setting of a wide-area peril

In view of the urgent need to indemnify policyholders with valid claims and the...

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Cressida Mawdesley-Thomas

12 King's Bench Walk

Cressida represents Claimants and Defendants in all aspects of personal injury litigation and related contractual disputes. She has experience and interest in disease work, most notably asbestos and dust-related conditions. She is being led in the in the High Court on a point relating to the interpretation of retained EU law and has experience of cross-border litigation and foreign law, as well as claims brought under the Montreal convention. Prior to joining the Bar, Cressida worked as an analyst in an American investment bank. She is commercially astute and adept at handling complex issues of quantum....

Web page updated on 22/05/2026

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