Insurance companies that initially rejected claims from businesses for losses due to the coronavirus pandemic have been overruled by The Supreme Court. We would encourage all Station to Station businesses to check with their insurer as you may be entitled to an insurance payout that was denied earlier in the pandemic.
The Supreme Court backed the Financial Conduct Authority (FCA) appeal on behalf of policyholders. This means thousands of policyholders will now have their claims for coronavirus-related business interruption losses paid by their insurance companies.
Each policy needs to be considered against the detailed court judgment to work out what it means for that policy
- Policyholders with affected claims can expect to hear from their insurer soon
- Policyholders with questions should approach their broker, other advisers or insurer
- Policyholders who remain unhappy following their insurer’s assessment of their claim may be able to refer their claim to the Financial Ombudsman Service, whose role is to resolve individual disputes
More information is available here.
