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Coronavirus-Business Interruption Insurance Policies because of the negative impact of Covid

Coronavirus-Business Interruption Insurance Policies because of the negative impact of Covid

Coronavirus-Business Interruption Insurance Policies because of the negative impact of Covid

Posted: 07/04/2021

On 15th January 2021, the Supreme Court found in favour of the FCA's decision that insurance companies should pay out on business interruption insurance policies because of the negative impact of coronavirus. An important battle has been won, but the war is far from over.

Whilst the judgement established a legal basis for claims, the insurance industry still isn't going to make it easy to get those claims fully paid, nor in a timely fashion.

As specialist Chartered Accountants, we work with clients on the claim and introduce them to professional claims management organisations to get the maximum value out of business interruption policy claims in the minimum time.

These claims management organisations do more than submit claims; their role is to:

  • Conduct a full analysis of your policy.
  • Where necessary, obtain a legal opinion on the strength of the claim.
  • Produce a Trigger Report.
  • Assess polices' quantification mechanics and use forensic accounting to maximise claim value.
  • Submit and manage claims.
  • If necessary, escalate the claim to get it paid.

The service is no win, no fee. You have nothing to lose by engaging and everything to gain.

If you wish to explore this further, please contact me on robertwilliams@corporatefinance.org.uk