Issue 40
Supreme Court Orders Insurers to Pay Business Interruption Claims CLHNews
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A massive lifeline has been thrown to small businesses particularly those in the hospitality and licensed on trade as a Supreme Court ruling announced this morning (January 15) will force insurers to pay out on disputed coronavirus business interruption claims potentially worth an estimated £1.2bn. Judges were asked to set the limitations for valid claims from various policies following a test case brought by the Financial Conduct Authority (FCA) with the
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support of eight insurance companies last summer. In June 2020, the Financial Conduct Authority instigated a claim against eight defendant insurers, seeking to answer the question of whether business interruption losses caused by the Covid-19 pandemic are covered under particular insurance policies.
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