Business Interruption Cover - COVID-19 UK ruling
Fri 18 Sep 2020
The UK High Court has ruled that the majority of businesses who held business interruption insurance cover and were forced to close due to the COVID-19 pandemic, are entitled to be compensated by the insurers and that this compensation should return them (subject to the limits of their policy), to the position they would have been in had the pandemic not happened. The decision may be subject to a future appeal.
We advise anyone with concerns about this issue to get in touch directly with their insurance broker who will have details of the individual circumstances and policy cover.
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The UK Financial Conduct Authority have posted this initial response on 16th September 2020. Please note that this link will take you off the Collenette Jones website and we are not responsible for the content of their web page.
Links
Result of FCA’s Business Interruption test case
