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Business Interruption Insurance update

Business Interruption Insurance update

Business interruption insurance update


On 15th September 2020, the UK High Court has delivered it's judgment on how certain business interruption insurance policies respond to claims.

The test case involved 21 policy wordings from 8 different insurers. The Court found in favour of the FCA on the majority of the key issues and reached different conclusions on each policy wordings.

The policy wordings of our insurers (Aviva, Covea, Allianz and Travellers) have not been included in the judgement case, and we believe the policy wordings (from our insurers) do provide clarity around contractual certainties and causation.

The advice on claims remains unchanged. However, our insurers are reviewing the broader implications of the judgment and as your broker should the insurers position change, we will notify you

If you have any further questions around your surgery insurance from Wesleyan Financial Services, please email GICommercialDept@wesleyan.co.uk.

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Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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