The judgment today in the Supreme Court on the FCA’s business interruption test case substantially allowed the FCA’s appeals and dismissed the insurers appeals and is good news for those businesses that had purchased an unspecified diseases extension.
Please note that this DOES NOT MEAN that you will automatically get your BI claim paid as some companies are leading this to believe, it is in respect of the unspecified diseases extension within the insurer’s Policy Wording.
The ABI has indicated that: “Customers who have made claims that are affected by the test case WILL BE CONTATED by their insurer to discuss what the judgment means for their claim. All valid claims will be settled as soon as possible and in many cases the process of settling claims has begun.”
Our team is available should you want to discuss anything arising from this judgment.
www.arcbrokerservices.co.uk
or 01529 675 021
