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Canadian Underwriter, "How business interruption verdict impacts trends clauses"
If your clients are looking for business interruption coverage arising from the pandemic, a key question is whether there is a “trends clause” in their policy.
“In policies with trends clauses, the calculation of loss of business income must take into account external factors that would potentially impact the future economic performance,” said Eric Charleston, a Toronto-based insurance coverage lawyer with Miller Thomson LLP.
He was commenting on a decision released Sept. 15 by the High Court of England and Wales in a test case brought by the U.K. Financial Conduct Authority.