Business Interruption Insurance Test Case – Resounding Victory for Policyholders
On 15 September 2020, the High Court held that the majority of businesses who were forced to close as a result of the COVID-19 pandemic and whom hold business interruption (BI) insurance policies are entitled to compensation from their insurers. Subject to limitations under the relevant policies, businesses may now be entitled to a pay-out which would effectively put them back in the position had the pandemic never occurred.