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Argenta Holdings Limited

Important Notice

 

FCA Test Case Update - Supreme Court Judgment

 

Important Notice

Argenta Syndicate 2121 at Lloyd’s underwrite a number of non-investment insurance contracts through a network of coverholders. If Argenta Syndicate 2121 at Lloyd’s is shown as the insurer in your policy documentation and you are experiencing temporary financial difficulty as a result of COVID-19, please contact your broker in the first instance or the coverholder through whom the policy was issued. In certain circumstances, appropriate adjustments to cover may be available.

COVID-19 Update

Throughout the pandemic Argenta has remained committed to 2 key priorities; ensuring the wellbeing of our staff and their families and the continued support and servicing of our clients and customers. In this regard, Argenta continues to monitor and adhere to Government advice and guidelines and will flex working arrangements as circumstances dictate.

At present our London office is closed and our London based staff continue to work from home with remote access to the Argenta infrastructure and systems. All Argenta Group companies continue to provide uninterrupted services and support to their customers. These arrangements will remain in place for the foreseeable future. Staff in our overseas offices also continue to work to more flexible arrangements although local restrictions have been lifted to the extent that staff in Australia have mostly returned to their offices.

If you have any questions in relation to this update or if you are experiencing any difficulties in reaching your usual Argenta contact, please either telephone the main switchboard on +44 (0)20 7825 7200 during normal office hours of between 08:00 and 18:00 (GMT) or email reception

Last updated: 28 January 2021

 

On Friday 15 January 2021 at 9.45am, the Supreme Court handed down its judgment in the appeal of the business interruption insurance Test Case initiated by the Financial Conduct Authority (FCA). The full judgment is available on the Supreme Court’s website and on the FCA’s website.

The appeal was brought before the Supreme Court by the FCA, six Defendant insurers (including Argenta Syndicate Management Limited) and the Hiscox Action Group in respect of the High Court’s judgment dated 15 September 2020.

In summary, the Supreme Court has found in favour of the FCA acting on behalf of policyholders in relation to the Argenta Syndicate Management Limited wordings which were subject to the Test Case. The judgement represents the Final Resolution of the Test Case. Argenta Syndicate Management Limited respects the Supreme Court judgement and welcomes the clarity it has brought in this unprecedented situation. In line with the FCA’s Finalised Guidance, Argenta Syndicate Management Limited will proceed to apply the Supreme Court’s judgment in respect of all policyholders’ claims or complaints which remain outstanding.

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