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Hiscox Launches New Dreams Advertising Campaign Spotlighting Small Business Owners

Hiscox Launches New Dreams Advertising Campaign Spotlighting Small Business Owners
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UK Supreme Court judgment on pandemic insurance payouts not a blank cheque for art organisations

The National Gallery shut off and deserted during the UK s third national lockdown © Amer Ghazzal/Alamy Live News The UK Supreme Court s recent ruling that insurers should pay out for business interruption (BI) policies through the coronavirus pandemic is good news for the many galleries, museums and other businesses whose incomes have been devastated. The ruling offers clarification on such insurance claims but art organisations are still not out of the woods yet, and likely will still have to fight for a payout from their insurers. Last year following the outbreak of the pandemic, the UK’s Financial Conduct Authority (FCA) brought the test case before the High Court to clarify the BI insurance rights of firms whose trading has been interrupted due to Covid-19. In September, the High Court handed down a judgment clarifying the interpretation of BI policies. That judgement was then appealed by insurers in the Supreme Court, which issued its judgment on Frida

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Hiscox response to Supreme Court Judgment

In order to achieve clarity for customers on the application of relevant policies as quickly as possible, Hiscox agreed in May 2020 to assist the Financial Conduct Authority (“FCA”) by participating in the Industry Test Case alongside seven other insurers.

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U K Supreme Court Rules In Favour Of Small Businesses In COVID-19 Insurance Claims

LONDON (dpa-AFX) - The U.K Supreme Court has ruled in favour of policyholders on the Financial Conduct Authority's or FCA business interruption insurance test case. This means that many thousands

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Insurers urged to pay claims quickly following BI ruling

The Supreme Court concluded the Covid-19 business interruption dispute by substantially ruling in favour of policyholders.

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