41% Of Biz Interruption Policyholders Still Wait On Claims
Law360, London (July 13, 2021, 1:42 PM BST) -- Four in 10 U.K. companies forced to close during national COVID-19 lockdowns that filed insurance claims after a Supreme Court test case in January have yet to receive money from their insurer, according to data released on Tuesday by the Financial Conduct Authority.
The watchdog said that not quite 24,000 of more than 40,500 policyholders with valid claims have won full or interim payments after Britain's Supreme Court ruled that insurers should pay out in most cases under policies for business interruption.
That leaves an estimated 16,600, or 41%, who have not received any cash, even though the FCA has urged insurers to act quickly...
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