The supreme court have found in FAVOUR of small business owners that insurance companies SHOULD pay out for valid claims for businesses interrupted by the first lockdown, back in March 2020.
The Supreme courts agreed that this is under the non-damage insurance policy clause, which covers for disease and denial of access to business premises.
The Financial Conduct Authority (FCA) brought the case to the supreme court after an estimated 370,000 businesses would be affected from non pay out of insurance claims.
Many business owners haven’t claimed due to not believing that the lockdown (part 1) would last quite as long as it did and/or believing that claiming would be futile.
If you have business insurance and business interruption was part of your policy, it will be worth claiming as soon as possible to see if you can get the pay out that you deserve. This is for the first lockdown, but still worth claiming for if you had cover in force for lockdown parts 2 and 3.
