Said Miss Durkan: “The Supreme Court’s decision in favour of policyholders in this landmark Financial
Conduct Authority (FCA) test case will bring certainty and hope to businesses that had been left on
the brink without insurance pay-outs, ultimately protecting jobs.
“These insurance policies were bought in good faith, and these businesses always deserved to be protected.
“Now that the legal proceedings have concluded, providers must accordingly pay out compensation in a swift manner.
“Claimants should not face any further barriers such as onerous paperwork.
“They have been in limbo for too long, and for many claimants these payments will impact on chances of business survival.“
Miss Durkan added: “This case has been a big victory for small businesses.
“FCA was right to argue from the outset of the pandemic that denial of access clauses within policies should trigger pay-outs in the event of Covid-related disruption.
“We would encourage businesses affected to get in touch with their insurance company.”Tags: