Following the Supreme Court test case on a range of business Interruption insurance policies, the FCA has produced a Policy Checker which takes businesses through a process whereby they can check to see whether their insurance policy covers business interruption losses due to coronavirus. It should be noted that each claim will still need to be individually considered to determine whether the policy provides cover for the effects of coronavirus.

Policyholders will need to check:

    • the extent of their cover including how long it covers them for (length of their indemnity period)
    • what losses are included – such as loss of profit, fixed costs or increased costs of working

https://www.fca.org.uk/decision-tree/business-interruption-insurance-policy-checker

In addition to the Policy Checker, the FCA have also developed a FAQs which gives business further information on:

    • How to make a claim
    • The disease clauses in policies
    • What to do if they have already made a claim or complaint
    • What they can claim for

https://www.fca.org.uk/firms/business-interruption-insurance-policy-checker/general-faqs-policyholders

Read our original article about the Supreme Court’s ruling here.

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