Below is our Legal Alert on today’s landmark judgment in The Financial Conduct Authority v. Arch Insurance and others, which was released today by the High Court of Justice of England and Wales.
Today’s victory, which is estimated to potentially impact some 370,000 policyholders in the UK, will reverberate across both sides of the Atlantic. Following comprehensive briefing and arguments, the English court addressed many of the issues in dispute in the more than 1,150 pandemic insurance litigations pending in the US. We expect that the rationale of the English court in today’s judgment will serve as an additional arrow in the quiver of US policyholders. As an appeal is likely, we will continue to monitor the case as it winds through the appellate process.