Inca COVID-19 Update: Court Rules Businesses Can Claim for Lockdown Losses Under Business Interruption Insurance
20th January 2021
Welcome to our latest COVID-19 update.
Court Rules Businesses Can Claim for Lockdown Losses Under Business Interruption Insurance
In a test case brought by the Financial Conduct Authority (FCA), the UK Supreme Court has ruled that businesses having business interruption insurance should be covered for losses arising from coronavirus lockdowns.
The case looked at 21 sample policies from 8 major insurance providers and found that most included clauses providing cover for lockdown due to coronavirus. However, it noted that this was not the case in all instances, depending on the precise wording of clauses.
You should contact your insurance broker to check if your policy covers you for lockdown losses due to COVID-19. If you don’t find them helpful, you should get in touch with the FCA directly
As always, we will continue to extend as much support to you as we can through this latest lockdown. If you need any help at all, please just give us a call.
The Inca Team
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