Covid-19 Business Interruption Insurance Court Case

[anonymous-user]

Not seen this discussed anywhere.

https://www.bbc.co.uk/news/business-53465972

Going to be very painful for someone.

[JagLover]

Worth reading to the end of the article for what the insurance industry are saying.

The BI policies are not designed to cover pandemics so the dispute will be over specific wordings so that it can be claimed they cover pandemics.

[smifffymoto]

I guess the insurance industry will come out trumps simply because the financial strain on them will be to much for them to bear and the men in suits will bend some ears to get the desired outcome.
If it goes the other way I will be astounded.

[glazbagun]

If they win I can only assume it'll be due to a poorly worded policy and will have no wider implications for the industry. Insurance is not magic, after all.

[Jim the Sunderer]

The house always wins.

[R Mutt]

'We've spent £10,000 on invalid insurance' Pandemic insurance was it?

As the article states it's more where wording accidentally fails to exclude a pandemic that the insurers are (unlikely) going to be stung for

They will have the standard exclusions on BI policies pretty well sewn up.

Same fake/ non news about the government having to enforce lockdown to trigger the policies which anyone with a vague concept of the business would know is not the sort of business interruption which policies are intended for.