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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

Argenta is pleased to announce that, in line with Government advice and following the recent lifting of the majority of restrictions in the Underwriting Room at Lloyd’s, the Argenta Offices in London will re-open with effect from Monday, 13th September 2021. In order to safeguard staff and their families, it is intended that, in the short term at least, a rota system will operate with staff alternating on a weekly basis between physically attending the Office and working remotely from home.

Clients including Brokers, wishing to meet in person with their usual Argenta contact, should check with them to see when they will be present either in the Office or the Room at Lloyd’s.

Working practices in Argenta’s overseas office continue to flex in line with local Government restrictions and guidelines.

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 09:30 and 17:30 (BST) or email reception

Last updated: 13 September 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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