Page 2 - Christopher Croft News Today

Reinsurers get the same go-over as auto policies bought in online price comparison tools, says LMG.

LONDON: Small businesses, from restaurants to nightclubs and wedding planners to beauty parlors, have won the right to insurance payouts after Britain’s highest court ruled their policies should cover losses caused by coronavirus lockdowns. Six of the world’s largest commercial insurers — Hiscox, RSA, QBE, Argenta, Arch and MS Amlin — argued many business interruption policies did not cover widespread disruption after Britain’s first national lockdown last March. But the UK Supreme Co...

4 Min Read LONDON (Reuters) - Small businesses, from restaurants to nightclubs and wedding planners to beauty parlours, on Friday won the right to insurance payouts after Britain’s highest court ruled many policies should cover losses caused by coronavirus lockdowns. FILE PHOTO: A man cycles past a mural on the boarded up window of a closed pizza restaurant amid the outbreak of the coronavirus disease (COVID-19) in Manchester, Britain, January 4, 2021. REUTERS/Phil Noble/File Photo Six of the...

Initial Reactions to UK Supreme Court’s Ruling on Business Interruption Claims Insurers, policyholders and industry observers have issued comments on the UK Supreme Court’s ruling that insurers should pay small businesses for many business interruption claims from the COVID-19 lockdowns. The UK Supreme Court dismissed appeals by six insurers – Hiscox, RSA, QBE, Argenta, Arch and MS Amline – determining that “many thousands of policyholders will now have their claims for coronavirus-re...

Small businesses, from restaurants to nightclubs and wedding planners to beauty parlours, on Friday won the right to insurance payouts after Britain's highest court ruled many policies should cover losses caused by coronavirus lockdowns.

06-10-2020 After ten months of uncertainty the UK Supreme Court has delivered its final verdict that insurers must pay out billions in business interruption (BI) claims to companies forced to close during the COVID-19 pandemic lockdown, ruling in favour of the Financial Conduct Authority (FCA) in a landmark case. Insurers and industry bodies have shared their reactions to the judgement with some warning that it could have "huge ramifications" for insurance beyond BI. The rest of this article is...