Hi, it’s Deborah and Euzi
If you have your business interrupted due to the coronavirus pandemic you could be able to claim the losses on your insurance. In a recent case the Supreme Court gave a landmark judgment in coronavirus (COVID-19) business interruption test case concerned with the recoverability of losses suffered by businesses during the coronavirus pandemic under various non-damage business interruption insurance extensions. The Supreme Court unanimously dismissed the insurers’ appeals and allowed the Financial Conduct Authority’s (FCA) appeals, albeit on qualified terms. The effect of the decision on each individual policyholder’s claim will depend on the specific terms of the policy and the facts of each claim. In broad terms, however, most of the insuring clauses included within the test case have been held to provide cover for coronavirus business interruption losses.
For further information on the case go to:
https://www.supremecourt.uk/cases/docs/uksc-2020-0177-judgment.pdf
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