We are launching a service to support with business interruption claims against insurers.
As you may be aware, the Supreme Court recently considered, at the request of the Financial Conduct Authority (FCA), certain key insurance policy terms and whether they covered interruption and/or losses resulting from the Covid-19 pandemic. The Supreme Court dismissed all of the insurers’ appeals and found substantially in favour of the FCA. You can learn more here.
This reopens the door to businesses which may have been told that they were not covered by their insurers to assert claims and receive compensation. We have already received several internal referrals. In light of this, we are launching a service to support our clients and insolvency practitioners (IP) with business interruption claims against insurers.
As part of this service, which is available for £1,500.00 - £2,000.00 +VAT, we do the following:
- Review your policy documents;
- Provide you with written advice on any terms in the policy that provide cover for Covid-19 interruption/losses in light of the Supreme Court decision and the extent of that coverage; and
- Advise you can then use this advice to support your claim (since there are various options for making claims).
While conducting this work, we typically look for:
- Disease clauses which provide cover for business interruption arising from, in consequence of, or following the occurrence of a “notifiable disease” within a specified radius of your business’ premises or within the vicinity of the premises;
- Prevention of access / Public Authority clauses which provide cover where there has been a prevention or hindrance of access to or use of your business’ premises as a consequence of Government or other public authority action; and
- Hybrid clauses which are engaged by restrictions imposed on your business premises in relation to a notifiable disease.
We understand this is highly relevant and expertise is required to navigate these issues. We provide the specialist, tailored service you require to achieve your goals. To learn more, contact Piers Dryden or Philip Skwierczynski.
