Financial regulator takes business interruption insurers to High Court

first_imgHome » News » COVID-19 news » Financial regulator takes business interruption insurers to High Court previous nextCOVID-19 newsFinancial regulator takes business interruption insurers to High CourtThe Financial Conduct Authority believes that in a small minority of cases insurers should have paid out and wants clauses examined.Nigel Lewis2nd June 20200498 Views Justice for some of the estate agents who feel let down by their business interruption insurance policies has taken another step towards being achieved.The Financial Conduct Authority (FCA) says that it is proceeding with a court case to test the many different policy wordings that have enabled some insurance companies and brokers to wriggle out of paying claims.This includes 17 common policy wordings used by 40 different insurers which will be examined by the test case, including Hiscox which is one of the main suppliers of policies to the property industry.But the FCA warns policy holders that its actions will not see pay-outs for most companies involved and that the court case is only meant to challenge the small minority of policies where they ‘could be argued to include cover’.As we reported on 15th April many estate agencies whose owners thought they were covered by their business interruption policies during a pandemic caused by a notifiable disease were told by their brokers that this was not the case.“Our view remains that most SME insurance policies are focused on property damage so at least in the majority of cases, insurers are not obliged to pay out in relation to the coronavirus pandemic,” the FCA says.“This case is focused on the remainder of policies that could be argued to include cover.“Policyholders should not assume that simple inclusion of their policy wording in this case will mean their policies are responsive.“We are seeking a judgment that will help policyholders and insurers have a much clearer view of which business interruption policies respond to the pandemic, and those that don’t.“Therefore, the court may well decide a number of these policies respond to the pandemic and others do not.”Read the full FCA statement.  HIscox Business interruption insurance FCA June 2, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

MLB wrap: Nationals beat Braves after Anthony Rendon hits grand slam

first_imgAnthony Rendon broke a tie in spectacular fashion Monday.The Nationals third baseman hit a grand slam in the sixth inning to put his team ahead of the Braves for good. MLB trade news: Brewers acquire Jordan Lyles for second straight season MLB trade rumors: Phillies ‘showing continued interest’ in White Sox closer Alex Colome MLB trade rumors: Indians ‘more likely than not’ to move Trevor Bauer Washington went on to beat Atlanta, 6-3.Anthony Rendon is very good.Anthony Rendon is very clutch.(MLB x @PapaJohns)— MLB (@MLB) July 30, 2019Juan Soto and Trea Turner also brought in runs as the Nationals moved to 57-49 and 4 1/2 games behind the National League East-leading Braves.  Related News Atlanta tried to chip away at its deficit with a run in the ninth, but it wasn’t enough to catch up to Washington.Dallas Keuchel was tagged with the loss after pitching 5 1/3 innings, allowing four runs and six hits. Patrick Corbin got the win after he gave up just two runs and five hits in six innings of work.Studs of the NightJoey Votto went 3 for 4 with a two-RBI single in the Reds’ 11-6 win over the Pirates.Eight Marlins recorded at least one RBI in their 11-6 win over the Diamondbacks. Dud of the NightRoyals reliever Josh Staumont allowed two earned runs and recorded one out in a 7-3 loss to the Blue Jays.HighlightsWhat a play by Padres infielder Fernando Tatís Jr. Not so much for Orioles starter David Hess. One-pitch wonder.— MLB (@MLB) July 30, 2019José Iglesias ended a 10-run inning with a grand slam.A 10-run inning for the @Reds‼️(MLB x @PapaJohns)— MLB (@MLB) July 30, 2019What’s Next?Cubs (56-49) at Cardinals (56-49), 8:15 p.m. ET — A full slate of MLB games is on the schedule Tuesday, including the Cubs taking on the Cardinals. They both sit atop the NL Central with 56-49 records but St. Louis has been on more of a hot streak winning seven of its last 10 games. Chicago has split its last 10 (5-5) but is coming off a win in Milwaukee. The Cubs will start Yu Darvish (3-4, 4.54 ERA) and the Cardinals will counter with Adam Wainwright (7-7, 4.63 ERA).last_img read more