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Court Judgement - Insurance policies
Discussion started by Moosemagic (IP Logged), 10 September, 2020 11:14
Moosemagic
Moosemagic
10 September, 2020 11:14
From the BBC News website.
In July, the Financial Conduct Authority (FCA) brought a UK case to try to bring clarity as to whether business interruption policies cover Covid-19.

The court judgement on the FCA case was due next Tuesday, and that would be "good for customers, and good for the industry, so everyone knows exactly where they stand as to what is covered and what isn't covered".




Phil Reynolds

MESSAGES->author
Kimbo
10 September, 2020 12:02
Can't see anyone but the insurance companies benefitting from this.

CharlieBravo
CharlieBravo
10 September, 2020 14:10
In my opinion, there are very few activities at which insurance companies excel, but they are particularly good at dodging any responsibility which would result in them paying up.

MESSAGES->author
Kimbo
10 September, 2020 14:39
Exactement.

MESSAGES->author
Kimbo
10 September, 2020 14:41
Rhymes with Bankers too. The other most-accomplished liars and filchers.

Moosemagic
Moosemagic
15 September, 2020 11:44
Maybe some positive news.......

Small businesses have been thrown a lifeline after the High Court ruled some insurers should have paid out for losses caused by lockdown.

Judges ruled that the disease clauses in some business interruption policies should have meant they were covered.

Following lockdown, a host of businesses had to close their doors and many looked to insurers to cover them,

But many insurers disputed the claims, arguing policies were never meant to cover such unprecedented restrictions.

This test case was brought by the Financial Conduct Authority and had the potential to affect 370,000 mostly small businesses.

The insurers can appeal against the decision. Policyholders should hear from their insurer within seven days.




Phil Reynolds

CharlieBravo
CharlieBravo
15 September, 2020 13:30
An addition to the report states that the FCA regard this judgement as removing “roadblocks” to the settlement of claims. Let’s hope Cov Rugby will be successful in their appeal to the insurers.

MESSAGES->author
Kimbo
15 September, 2020 16:41
Fingers crossed. I'd be shocked, but delighted.

Rob C
Rob C
16 September, 2020 08:55
The problem, according to the petition launch back in March, was that the club couldn't provide a test showing they had a confirmed case. Whether that has now changed is anyone's guess.

Hopefully, some sort of update on this and other states of affairs at the club might be released in the not to distant future...


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