John Ludlow, CEO of Airmic, commented:
“On behalf of our members, we are pleased with the High Court ruling in favour of the Financial Conduct Authority and insurance buyers on the test case for business interruption (BI) claims. 2020 has already been a tough year for business across most sectors, due to Covid, which has been exacerbated by
the harsh insurance market. We think this ruling is to the benefit of businesses, risk professionals and insurance buyers, but importantly should serve to smooth a period of uncertainty faced by policyholders, and especially for those in the SME space.”
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