BUSINESS INTERRUPTION INSURANCE


For some businesses, Business Interruption Insurance can mean the difference between ensuring a long-term future and going under.

What is Interruption Insurance?

 

Business Interruption Insurance (BII) is a type of insurance that is designed to protect businesses against the financial loss suffered as the result of a property claim. It typically covers short term financial loss arising from interruption to business operations as a result of damage to the business premises or equipment.  The cover is often extended to include prevention of access to the premises, and sometimes includes loss caused by interruption to supply of goods and services.

BII AND COVID 19

 

The Covid-19 pandemic caused disruption to a significant number of businesses in the UK. The strict government measures resulted in many businesses having to significantly reduce their operations or, in some cases, shut down completely. As a result, business owners suffered loss of earning and other damage.

If your business purchased BII, either as a part of or as an extension to your usual commercial policy, you might be entitled to compensation from your insurance provider. For some businesses, BII can mean the difference between ensuring a long-term future and going under. However, many of those who tried to make a claim were denied compensation on the basis that particular losses were not covered under their policy.

In a recent case brought by the Financial Conduct Authority against eight insurers, the High Court gave useful guidance on the proper operation of cover under certain non-damage business interruption insurance extensions. The Court found broadly in favour of the insured on the majority of the key issues, in particular in respect of coverage triggers under most types of clauses.

How can Charles Lyndon help?

Charles Lyndon’s financial litigation lawyers can assess whether you have a claim and will be able to advise you on how to proceed, whether that is through a complaint to your insurance advisor or provider, the Financial Ombudsman Service or the Financial Services Compensation Scheme, or, if necessary, we can bring a claim in court. We can evaluate whether you have lost out financially due to the insurance provider refusing to pay and help with your claim for compensation.

If you have business interruption insurance and your insurer has not paid out or if you would like to discuss us helping you to make a claim, please contact us for a free, no obligation chat.  If we believe we can help you, we can do so on a ‘no win no fee’ basis.

 

We can evaluate whether you have lost out financially due to the insurance provider refusing to pay and help with your claim for compensation.

Moving Forward

You can contact us in a number of ways:

  • by using the contact form on this page or by emailing us at [email protected] and one of our support staff will be in touch no later than 24 hours of receiving your enquiry
  • by contacting our lawyers by telephone by calling Call 0207 058 0050

Lets Talk…

If you have any questions about a specific case we are working on, would like to discuss us representing you or want to know more about who we are and what we do, then speak to our team. We will get back to you as soon as possible.

 

IMPORTANT NOTICE: The information you provide will be only used by us to administer your enquiry and any response. Use of this form does not create a solicitor-client relationship and information transmitted will not necessarily be treated as privileged or confidential. If you are a client, please get in touch with your usual firm contact directly for the most timely response.

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Lets Talk…

If you have any questions about a specific case we are working on or want to know more about who we are and what we do, then speak to our team. We will get back to you as soon as possible.

IMPORTANT NOTICE: The information you provide will be only used by us to administer your enquiry and any response. Use of this form does not create a solicitor-client relationship and information transmitted will not necessarily be treated as privileged or confidential. If you are a client, please get in touch with your usual firm contact directly for the most timely response.

7 + 7 =