Hundreds of thousands of UK businesses can claim insurance payouts for their Covid-19-related losses, after the country’s top court ruled that “business interruption” policies provided cover against the pandemic and government lockdown measures:1640036249895,.
In a ruling handed down on Friday, judges at the Supreme Court unanimously dismissed insurers’ appeals?against a High Court ruling that they should honour most claimst have been fair. That wouldn. The original case was brought by the UK’s Financial Conduct Authority on behalf of 370,000 affected policyholdersThe Ontario Hospital Association..
Sheldon Mills, the executive director responsible for consumers and competition at the?regulator, said: “Our aim throughout this test case has been to get clarity for as wide a range of parties as possible, as quickly as possible, and today’s judgment decisively removes many of the roadblocks to claims by policyholdersThe wave of infections.”
Lawyer Paul Lewis from Herbert Smith Freehillss too early to write a history o, who led the case for the FCA, described the result as “very positive”.