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Lloyd's of London CEO expects UK business insurance judgment to be appealed

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·1 min read
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LONDON, Sept 24 (Reuters) - Lloyd's of London Chief Executive John Neal said on Thursday he expected a British test case about business interruption insurance to be appealed.

London judges ruled that some of the world's biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic, Britain's Financial Conduct Authority (FCA) said last week.

The FCA, which brought the case against eight insurers, said the court had found in favour of policyholders' arguments on the majority of key issues.

When asked on a conference panel if he expected an appeal, Neal said "yes", adding that due to the complexity of disputes over policy wordings "cases run for a period of time".

Neither insurers nor the FCA have said if they will appeal.

(Reporting by Carolyn Cohn, editing by Kirstin Ridley)