Insurers must pay small firms for Covid lockdown losses

[singlecoil]

https://www.bbc.co.uk/news/business-55661702

Tens of thousands of small businesses will receive insurance payouts covering losses from the first national lockdown, following a court ruling.

The Supreme Court found largely in favour of small firms receiving payments from business interruption insurance policies.

For some businesses it could provide a lifeline, allowing them to trade beyond the coronavirus crisis.

The ruling could cost the insurance sector hundreds of millions of pounds.

[Simpo Two]

It will. Look out for massive premium hikes as they try to claw it back.

[55palfers]

Let's open a book on how many months will elapse before policyholders get to see any money.

[Dixy]

Did you not look to see if there was already a thread.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Its even been updated today.

[singlecoil]

Dixy said:

Did you not look to see if there was already a thread.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Its even been updated today.

If you hadn't been so excited at the thought of delivering a rebuke you might have noticed, if you had looked, that the thread you refer to was updated after I posted my thread. Before that it would have been on page 10.

[Simpo Two]

If businesses are going to get an unexpected payout, will they have to pay back any State aid they received due to not having any money?

[fourstardan]

Simpo Two said:

If businesses are going to get an unexpected payout, will they have to pay back any State aid they received due to not having any money?

This.....sting in the tail to me.

[JeffreyD]

Simpo Two said:

If businesses are going to get an unexpected payout, will they have to pay back any State aid they received due to not having any money?

I can''t think if any that would be affected.
Hopefully it will allow many to make a dent in the loans .

[Jockman]

Simpo Two said:

It will. Look out for massive premium hikes as they try to claw it back.

Yup. Probably big hikes to me.

Still the correct decision.