Insights: Ottilia Csoti

Passport to Pimlico or an Ealing Comedy? EEA Firms that provide regulated financial services in the UK through the EU’s Freedom of Establishment or Freedom of Services passporting systems will soon lose the right to do so as a result of Brexit. The UK’s transition period for leaving the European Union will end on 31 […]

The London Interbank Offered Rate (LIBOR), though still one of the world’s favourite numbers, will cease to be available from the end of 2021. The end of LIBOR will affect all users of the interest rate benchmark and both lenders and borrowers need to be prepared for this change. This change was announced in July […]

Fladgate LLP has advised leading residential developer Strawberry Star on a £75 million funding from Cheyne Capital for its mixed-use development, Lu2on. Lu2on, which is expected to complete Phase 1 in 2021, is on a 6.8-acre site which was formally part of the Vauxhall Motors. The funding will finance the construction of the first phase […]

The High Court has delivered its first test case judgment providing some certainty on the scope of insurance cover for businesses being hit by Covid 19.  Subject to any revision on appeal, this judgment is the authority to define the meaning of “occurrence” of a contagious disease such as the Covid 19 virus. The court […]

The FCA has now completed the first stage of providing clarity regarding the cover available to businesses affected by Covid-19. The FCA’s assessment following a review of the standard types of policies confirms our view that cover will in the majority of insurance products be limited to events of physical damage to the business premises […]

The Financial Conduct Authority (FCA) has requested several insurers to clarify their position on COVID-19 related business claims before seeking guidance from the courts by way of declaratory judgment. The FCA aims to create authoritative case law in anticipation of a flood of disputes over policy wording and COVID -19 cover. This step will indeed […]

Commercial lending mostly sits outside the FCA and PRA’s scope for regulation. However, though lending to business customers is generally not a regulated activity in the UK, due to the impact of the Covid-19 pandemic on businesses and particularly on SMEs, the FCA and PRA are collecting data, monitoring and publishing updated guidance in relation […]

There has been a great deal in the press recently about insurers rejecting coronavirus claims and disappointed policy-holders. Some of those speaking publicly on behalf of the insurance industry have not done much to dispel the confusion and get to the nub of the issue. The issue is not one of what the insurer “intended” […]