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Edit Business | J Z Fogel Insurance Assessor
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"In March 2020 most Insurance Companies rejected claims from businesses for LOSS OF GROSS PROFIT. Insurance Companies relied on unclear wordings in their Business Interruptions policies.The FCA took a sample number of different policy wordings and insurance companies to court for clarification. The test cases involved complex issues, Infections and Notifiable Diseases, Prevention/Denial of Access and Public Authorities Closures. Clarification on Trend was also highlighted as insurance companies had used trend to reduce claims.On 15/01/2021 the supreme court delivered its judgement and this substantially allowed the FCA appeal on behalf of policyholders."
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