Business Interruption Insurance

Since the inception of the coronavirus pandemic, many businesses have experienced a widespread of disruption across their day-to-day operation, or in cases of severe financial loss, a complete closure of business. This has consequently resulted to businesses submitting claims for such losses under their respective Business Interruption Insurance (“BII”) policies.

Businesses are approaching our services following their insurers’ refusal to accept liability for their claims arising as a result of the pandemic.

At Connaught Law, we have industry experience in dealing with and handling insurance matters. Our services include;

  • A full assessment of your policy
  • Advising on the relevant wording and merits of your case
  • Assessing the impact of the FCA test case
  • Liaising with the insurance companies and any relevant third parties in progressing the matter
  • Issuing legal proceedings, based on the individual merits of the case
  • Recovering the funds due to you.

There has been contentious concern surrounding the clarity for some businesses making such claims. BII policies have brought to light many complexities following the involvement of the FCA. The matter was brought before the High Court as part of a test case. This was aimed to provide clarity to the contractual uncertainty surrounding the validity of claims being made under BII policies. The Financial Conduct Authority (“FCA”) presented arguments on behalf of policyholders, underlaying their commitment to the public interest.

The High Court’s decision resulted to an appeal being forwarded to The Supreme Court, who published its judgment on 15 January 2021. The judgment dismissed every appeal put forward by the Insurers’ and allowed the appeals brought forward by the FCA.

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