It’s been grabbing the headlines in recent months, but why is business interruption insurance so important?
Pannone Corporate

No one quite envisaged a year like 2020. It threw up a plethora of obstacles and challenges – the likes of which have not been experienced before by many businesses. Bill Dunkerley speaks to First Voice magazine about one particular issue that’s been grabbing the headlines in recent months – business interruption insurance.

So, why has it been dominating the front pages? At the end of last year the Supreme Court heard the appeal of a case initially brought by The Financial Conduct Authority (FCA), concerning the correct interpretation of business interruption insurance policies – with the judgement ruling in favour of businesses on 15th January. Bill Dunkerley, Director in the Regulatory team, considers that it’s a potentially contentious issue and one that many businesses will now be eagerly watching, to see whether the ruling obliges insurers to pay out on claims relating to trade lost during the coronavirus.

“While the most scrupulous of business owners will pore over the finer details, few would have paid close attention to the inclusion, or exclusion, of specific diseases in their business interruption insurance policy. Yet, for many, this particular detail has left them potentially out of pocket and exposed, as a result of Covid -19.”

Read the full article on the First Voice website.

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