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Insurers Face Disputes with Their Reinsurers over UK COVID-19 Business Income Claims Top insurance companies, ordered by Britain’s highest court to pay thousands of small businesses millions of pounds in claims for COVID-19 disruption, are facing a battle with reinsurers over who should foot the bill, industry sources said. Bars, beauty parlors, nightclubs and other small companies in January won the right to business interruption insurance payments after senior judges ruled many insurance policies should cover losses caused by lockdowns in a test case brought by Britain’s market watchdog. But senior insurance executives said the judgment, which affects 60 insurers, has not helped to clarify whether insurers or their reinsurers companies which provide financial protection to the industry are on the hook for payments.

United statesUnited kingdomCity ofStephen hesterRalph fearnheadColm kellyJane merrimanSteve mcgillSupreme courtEuropean unionAssociation of british insurersBritish insurersTangency capitalExecutive stephen hesterEast londonMishcon de reya