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Insurance payouts for lockdown losses

Insurance payouts for lockdown losses

The High Court has ruled that some insurers should have paid out for losses by businesses during the lockdown, according to this article in the BBC website.

The case was brought by the Financial Conduct Authority which, according to the BBC, said the ruling removed “a large number” of roadblocks to successful claims, as well as clarifying those that might not be successful.

This could be the lifeline that many small businesses need after judges ruled ‘that the disease clauses in some business interruption policies should have meant they were covered.’

Insurers can appeal agains the ruling, but policy holders should hear from their insurer within seven days.

 

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