The FCA calculates that 26,238 policyholders out of 41,666 who have had BI claims linked to the test case action accepted have received at least an interim payment so far! https://www.insurancetimes.co.uk/news/insurers-have-paid-968m-in-interim-and-final-bi-claims-payments-so-far/1438504.article Although you may or may not have received a settlement for your Business Interruption Covid claim, are you now happy in the…
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Tag Archives: business interruption
Tips for preventing theft from your worksite
Employee training Employees are vital to any business and can play a key role in safety and protection of the company and equipment. Companies should always check the backgrounds of any potential employees, if possible. Once on board, security guidelines and polices should be explained in detail and all staff need to be trained in…
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Is my shop covered?
With the country opening again recently, business owners have been able to return to their livelihood. If you are returning to your shop, bakery or tearoom, this is the type of cover you will need to look at and review. Shop insurance Shop insurance is an overview term for policies such as bakery insurance,…
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Marine Cargo – ‘Ever Given’ Suez Canal blockage impact
Marine Cargo – ‘Ever Given’ Suez Canal blockage All customers with cargo onboard must contribute to the costs of the recovery and salvage costs to the Ever Given. If you have an Ascend Cargo insurance policy then this will be covered under the General Average extension – if you do not have marine insurance you…
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The FCA Supreme Court Test Case update
The FCA Supreme Court Test Case update Overview The Supreme Court handed down judgment on the 15th January 2021 on the FCA Business Interruption Test Case. It held resoundingly in favour of the FCA (on behalf of the policyholders) in relation to all types of clause under consideration – “Disease” clauses, “Prevention of Access”…
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Update: Business interruption extensions to COVID-19
Update: FCA Test Case: Business interruption extensions to COVID-19 The Supreme Court judgment in the FCA Business Interruption Test Case was published on Friday 15th January 2021. The Supreme Court did find in favour of the FCA and policyholders on the areas of dispute on eight insurers in the test case. Please…
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Business interruption for charities
Have you considered the potential impact to your charity should disaster strike? Have you considered a fire, flood, or an opportunistic hacker? If not, it might be time you did! Let us take a look at what’s covered under business interruption. What is business interruption insurance? Business interruption insurance provides cover for losses following…
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Review your charity’s insurance policy
Kick off the New Year making sure your charity is sufficiently covered As the New Year begins, it’s time to make sure your charity is ready for the year ahead. Carrying out an annual charity cover review to ensure that your insurance policies are adequate, suitable and represent value for money, is a clear demonstration…
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Risk Insight: How Coronavirus is affecting Cargo Insurance
Risk Insight: How Coronavirus is affecting Cargo Insurance Customers What is the likely/potential impact on Supply Chain? All areas of the supply chain in or via countries impacted expect to face reduced capacity to handle goods due to restrictions on movements of people and cargo. These restrictions are likely to have a significant impact on…
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Managing Your Exposures – Sport & Leisure Industry
Managing Your Exposures – Sport & Leisure Industry Some risks are common to all in the sector property and casualty exposures for risks such as fire, flood or slips & trips – liability. Also, Business Interruption is a big consideration for those with a reliance on a specific location – for example a Hotel or…
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