Supreme Court Business Interruption Test Case Ruling
The Supreme Court delivered its judgment on 15th January in the Financial Conduct Authority’s COVID-19 business interruption insurance test case.
Insurers will be reviewing the judgment over the coming weeks and will be working to determine what impact it may have for claims submitted by policyholders.
It will likely take some time for each policy to be considered against the detailed judgment, however we will ensure that all clients who are affected will have their claims reviewed.
It is worth noting that the majority of insurers did not provide any COVID/pandemic cover and for those policies this judgment will not apply. The ruling will only affect roughly 5% of all policyholders nationally.
We understand the importance of this ruling for many businesses. Please bear with us as we await responses from insurers, which could take some time due to the significance of the situation and the number of claims submitted.
If you have any questions, please don't hesitate to get in touch with us on 01202 874 989.