UK court’s BI ruling unlikely to affect reinsurers
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U.S.-based Fitch Ratings Inc. believes that the U.K. Supreme Court’s recent business interruption test case ruling in the favor of policyholders will not drive reinsurance claims big enough to materially affect the reinsurers, Artemis reported. According to Fitch, reinsurers could face one potential issue relating to cedents’ ability to aggregate multiple BI claims into large single claims to trigger excess-of-loss reinsurance provisions.
