Skip navigation

Gloucestershire Business News

Coronavirus insurance case reaches Supreme Court

An argument over insurance payouts for businesses unable to trade due to coronavirus restrictions is being heard in the Supreme Court this week.

Around 370,000 businesses are affected by the ruling which involved potential payouts of £1.2billion.

The initial test case was brought by the Financial Conduct Authority with eight insurers agreeing to take part.

The High Court found most of the 21 policies involved should pay out with the appeal to the Supreme Court covering 13 of them.

But this week's appeal does not include policies from Gloucester-based Ecclesiastical Insurance - as well as Zurich - after the High Court found entirely in their favour.

The Supreme Court hearing is expected to last four days with a judgement expected in a few weeks.

The initial case followed businesses making claims on business interruption policies, but many insurers argued they were not intended cover the restrictions imposed during the pandemic.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Tuesday, November 24 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Tuesday, November 24

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Business centre to clear path for £7.45m road widening Image

Business centre to clear path for £7.45m road widening

Plans for a £7.45million plan to widen a Gloucester road have taken a major step forward with the purchase of land needed for the scheme.

Tributes paid to a 'champion' of small businesses Image

Tributes paid to a 'champion' of small businesses

Dave Stallon, who ran the Plastics and Engineering company in Bath Road, Stroud, and was a former regional chairman of the FSB Gloucestershire and West of England, has died, aged 66.

Entrepreneurial duo breathe new life into Cheltenham-born Neptune Rum Image

Entrepreneurial duo breathe new life into Cheltenham-born Neptune Rum

What did Gloucestershire entrepreneurs James Strickland and Raymond Pugh do after selling their £150M+ turnover recruitment business they built from scratch? They bought a world-class rum brand.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.