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Small firms await court ruling on lockdown payouts

Small firms await court ruling on lockdown payouts

Small businesses are awaiting a Supreme Court ruling today on insurance payouts for those forced to close during the first national lockdown. Many claimed on business interruption insurance policies, but insurers refused arguing there was no cover for such unprecedented restrictions. It was agreed that a selection of policy wordings be tested in court. The case has implications for 370,000 small businesses, and involved potential payouts of £1.2bn. Judges at the Supreme Court will set the parameters of whether or not valid claims can be made under these policies. The High Court previously found mostly in favour of insurers having to pay out to policyholders.

Read more: BBC News


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