Home Business News ‘Life-saving’ ruling on business interruption insurance payments

‘Life-saving’ ruling on business interruption insurance payments

by LLB Finance Reporter
18th Jan 21 7:10 am

The Association of Professional Staffing Companies (APSCo), has welcomed the ruling from the Supreme Court last Friday regarding payments for small firms from business interruption insurance policies. The ruling comes following a court case which began last year as a number of small firms challenged the decision by insurers to turn down claims under these policies as a result of the Covid outbreak.

Tania Bowers, Legal Counsel and Head of Public Policy at APSCo said, “This is great news for staffing companies who had these business interruption insurances policies in place and will provide life-saving support for many firms that are facing significant financial difficulty in these tough times. The pandemic has put incredible financial pressure on recruitment organisations that have faced a significant decline in business as a direct result of the national and regional lockdowns implemented by the Government.”

“Small businesses are facing an extended period of uncertainty and we’re pleased that the Supreme Court ruled in their favour today. However, our hope now is that insurers will agree to settle these claims swiftly, rather than draw out the process even longer, which could put unnecessary strain on UK businesses.”

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