The Court of Appeal has upheld a significant ruling regarding insurance claims for business losses linked to the COVID-19 pandemic. Court has ruled in favour of businesses. The decision rejected appeals from insurance firms against a June 2023 High Court ruling. This could enable thousands of businesses to seek compensation. The case in question involved a £16m claim from London’s ExCel centre. Lawyers claimed that the ruling would allow many businesses previously denied coverage to pursue significant claims. The result is that thousands of businesses affected by the Covid lockdowns who have not yet had a payout from their insurers, may now be able to pursue a claim. Many policyholders previously denied cover may in fact have significant payments available to them under their insurance policies.”
iBOSS Comment:
Potentially good news for many SME’s. Certainly worth a call to your Lawyers if you believe you may have a case!