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BRIEF-UK markets watchdog updates on business insurance court action

June 1 (Reuters) - Hiscox Ltd:

* FINANCIAL CONDUCT AUTHORITY (FCA) IS TODAY PROVIDING AN UPDATE ON PROGRESS ON ITS COURT ACTION ON BUSINESS INTERRUPTION (BI) INSURANCE POLICIES

* FCA HAS APPROACHED 56 INSURERS AND REVIEWED OVER 500 RELEVANT POLICIES FROM 40 INSURERS

* FCA EXPECTS TO PUBLISH A LIST OF ALL RELEVANT INSURERS AND POLICIES THAT MAY HAVE IMPACTED WORDINGS IN EARLY JULY.

* FCA WILL PUT FORWARD POLICYHOLDERS’ ARGUMENTS TO THEIR BEST ADVANTAGE IN PUBLIC INTEREST

* 16 INSURERS USE AT LEAST ONE OF POLICY WORDINGS IN OUR REPRESENTATIVE SAMPLE WHICH WILL BE EXAMINED IN TEST CASE Source text for Eikon: Further company coverage: (Reporting By Huw Jones)

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