‘Business Interruption Insurance’ and Supreme Court ruling

French Duncan


 

You may have seen news coverage today about The Supreme Court ruling which found in favour of small firms receiving insurance payments – meaning many small businesses with ‘Business Interruption Insurance’ may be able to claim for losses incurred in the first COVID lockdown. If not see:

Barry Laurie, one of our Corporate Tax Partners, had this to say on the matter:

“This is undoubtedly a major victory for small businesses, especially in some of the hardest hit sectors such as retail, hospitality and leisure industries.  This ruling should mean that  many businesses  who did have ‘Business Interruption Insurance’ will be in line for payouts to cover their losses during the first lockdown period.  This can only help their medium to long-term survival and bounce-back, which must be a good thing for the whole economy. The case was ruled on in England and Wales, but it is expected that the Scottish courts will follow suit ”

 

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